Tag: guidance

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Report Elder Abuse to Authorities, Federal Regulators Tell Financial Institutions
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Massachusetts Attorney General Issues Guidance on Debt Collection Regulations

Report Elder Abuse to Authorities, Federal Regulators Tell Financial Institutions

By: David L. Beam, *Anjali Garg

*Ms. Garg is a law clerk and not admitted to the practice of law.

Federal privacy laws do not prohibit a financial institution from reporting suspected elder abuse to the authorities. That’s the key takeaway from a new interagency guidance issued by seven federal regulatory agencies on September 23. Read More

Massachusetts Attorney General Issues Guidance on Debt Collection Regulations

By: Nanci L. Weissgold , Sean P. Mahoney , Gregory N. Blase

On January 24, 2013, the Massachusetts Office of the Attorney General (“AG”) issued guidance to the industry interpreting its debt collection regulations (“Regulations”) that became effective March 2, 2012. The AG took this unusual step as it recognized that the Regulations raise unique compliance issues for servicers of consumer debt. The AG promulgated the Regulations pursuant to the rulemaking authority conferred by the Massachusetts Consumer Protection Act (“Chapter 93A”), “to establish standards, by defining unfair or deceptive acts or practices, for the collection of debts from persons within the Commonwealth of Massachusetts.” 940 C.M.R. 7.01. Although there is no private right of action, a violation may, nevertheless, constitute “an unfair or deceptive act or practice under Chapter 93A.”

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