news.cuna.org/articles/106454-inside-washington

Inside Washington

June 22, 2015

WASHINGTON (6/22/15)--The Consumer Financial Protection Bureau (CFPB) Friday ordered a medical debt collection company to provide more than $5.4 million in relief to harmed consumers, correct its business practices and pay a $500,000 penalty. The enforcement action against Syndicated Office System LLC, which does business as Central Financial Control, is related to mishandling consumer credit reporting disputes and preventing consumers from exercising debt collection rights. The CFPB order charges the company with violating the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. A CFPB investigation found that Syndicated Office Systems failed to send debt-validation notices to thousands of consumers and that the company mishandled complaints by failing to investigate and respond to consumers within the 30-day timeframe required under the law ...

WASHINGTON (6/22/15)--Brian Madigan has been appointed secretary of the Federal Open Market Committee (FOMC), the Federal Reserve Board announced Friday. Madigan also was appointed deputy director of the board’s Division of Monetary Affairs. As FOMC secretary, Madigan will direct the work of the FOMC secretariat, which produces minutes and transcripts of FOMC meetings and maintains the committee's records. Madigan, who will provide monetary policy advice to the committee, will report to Thomas Laubach, whom he succeeds as FOMC secretary. Laubach continues to serve as director of the Division of Monetary Affairs and the Committee's primary adviser on monetary policy ...