Compliance Now

Bringing clarity and insight to the consumer protection regulations impacting your business

Oct 27, 2015

European Court Ruling May Have Unintended Result of Compromising Data Security

The European Court of Justice’s October 6, 2015 ruling in Maximillian Schrems v. Data Protection Commissioner invalidating the “Safe Harbor” agreement, which previously allowed data transfers between the U.S. and European Union (“EU”), opens up companies on both sides of the Atlantic to increased scrutiny. The Court held that the Safe Harbor data transfer exception failed to protect the privacy [...]

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Oct 06, 2015

Fifth Third Bancorp Settles Discrimination Suit

With an overall payout of more than $21 million, Fifth Third Bancorp settled discrimination claims last week related to its indirect auto lending business and claims that it used deceptive tactics to get consumers to sign up for credit card add-on products. In an administrative proceeding brought by the Consumer Financial Protection Bureau (CFPB) and a lawsuit brought by the [...]

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Oct 05, 2015

CFPB Needs to Consider Consequences of Increased Regulation of Debt Collection

Writing for the Mercatus Center at George Mason University, Professor of Law Todd Zywicki offers a compelling report discussing The Law and Economics of Consumer Debt Collection and Its Regulation. With the Consumer Financial Protection Bureau’s (CFPB) announcement that it is considering new regulation for consumer debt collection, Zywicki stresses the importance of understanding the potential consequences – both intended [...]

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Sep 10, 2015

The Importance of Debt Collection to the Economy

Check out this important read from DBA International Executive Director Jan Steiger on the significant role debt collection plays in our economy. As Jan notes, “the responsible use of credit is an integral part of a fully functioning economic system.” The system falters when consumers default on loans, with everyone paying the price as the cost of borrowing increases and [...]

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Sep 01, 2015

Federal Judge Dismisses False Advertising Class Action Against Makers of Jim Beam

A California federal judge just dismissed a proposed class action which alleged that the makers of Jim Beam falsely advertise its bourbon as “handcrafted.” In ruling that a reasonable consumer would not be deceived and believe that bourbon is literally created by hand instead of machine, U.S. District Judge Larry Alan Burns held that California state law claims failed because [...]

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Aug 31, 2015

DBA International Updates Code of Ethics Governing Professional Conduct of Members

DBA International has announced a major update to its Code of Ethics governing the professional conduct and behavior expected of its members and their employees/agents. Adopted at the August 13 Board Meeting, this comprehensive update adds clarity to the industry’s rigorous ethical standards while integrating the consumer protections contained in DBA International’s Receivable Management Certification Program. Through its Code of [...]

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