CFPB Targets Payment Processor for Providing “Substantial Assistance” to Debt Relief Servicers

by Richard B. Newman
The Consumer Financial Protection Act of 2010 and the Telemarketing and Consumer Fraud and Abuse Prevention Act regulate certain actions of debt relief service providers, such as requesting or receiving fees from consumers prior to the service provider successfully renegotiating at least one of the consumer’s debts and the consumer having made at least one payment under the renegotiated plan.Read the full article