In this article, we share a timeline of our monthly "bites" for 2024 applicable to debt collection practices. Like 2023, the theme of 2024 was medical debt collection....more
2/10/2025
/ Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Reports ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Final Rules ,
Medical Debt ,
Medicare ,
Proposed Rules ,
Unfair or Deceptive Trade Practices
The United States is a big melting pot of cultures, ethnicities, and languages. This diversity is great for business, but if you are advertising that your business speaks "Spanish" or that your business can assist customers...more
Today, in the United States, the number of people who speak Spanish or a language other than English is growing rapidly. According to the United States Census, about 68 million people do not speak English at home....more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical debt....more
2/1/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Debt Collectors ,
Enforcement ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
Loan Servicing ,
Medical Debt ,
Mortgages ,
Payday Loans ,
Rulemaking Process ,
Student Loans ,
UDAAP
A couple of months ago, the Consumer Financial Protection Bureau issued a research paper it said revealed that many active duty servicemembers who were entitled to interest rate reductions under the federal Servicemembers...more
In February, the Consumer Financial Protection Bureau issued a compliance bulletin to the vehicle finance industry to make sure that industry participants—including and especially servicers—remember the CFPB's authority to...more
Every creditor with subprime customers has experienced—on one occasion or another, we expect—someone judging it unfavorably for allegedly taking advantage of consumers by charging higher interest rates. That "tsk-tsk"...more
The Servicemembers and Veterans Initiative at the U.S. Department of Justice continues. At the end of July, the DOJ entered into a consent order in a Texas case where a towing company sold active-duty servicemembers' cars...more
Many finance companies, debt buyers, debt collectors, and collection law firms wrestle with the question of which statute of limitations to apply when collecting a deficiency balance on a retail installment contract. States...more
The U.S. Department of Justice continued the pursuit of its civil rights initiatives aimed at enforcement of federal laws that protect servicemembers, veterans, and their families in September by settling with the City of San...more
11/4/2020
/ Consent Order ,
Department of Defense (DOD) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreclosure ,
Liens ,
Military Service Members ,
Servicemembers Civil Relief Act (SCRA) ,
Statutory Violations ,
Storage Contracts ,
Trial Court Orders ,
Veterans
Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more
11/3/2020
/ Collateral ,
Collection Agencies ,
Consumer Reporting Agencies ,
Coronavirus/COVID-19 ,
Credit Reports ,
Creditors ,
Debt Collection ,
Debt Collectors ,
Financial Services Industry ,
Natural Disasters ,
Policies and Procedures
In mid-August, the Department of Justice sued Target Recovery Towing Inc. and Target Recovery & Transport Inc. in Florida federal court for violating the federal Servicemembers Civil Relief Act when, without a court order,...more
As a supplement to its notice of proposed rulemaking on debt collection, on February 21, 2020, the Consumer Financial Protection Bureau issued additional proposed rules addressing attempts to collect debts for which the...more
4/13/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Disclosure Requirements ,
FDCPA ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Rules ,
Public Comment ,
Revival ,
State Law Claims ,
Statute of Limitations ,
Time-Barred Debt
Secured creditors must be ever mindful of their rights in consumer bankruptcy cases. Details that might seem technical or insignificant can mean the difference between a creditor's obligation being secured and being...more
Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more
10/3/2019
/ Automotive Loans ,
Chapter 13 ,
Consumer Bankruptcy ,
Creditors ,
Default ,
Department of Revenue ,
Filing Requirements ,
Inadvertent Errors ,
Liens ,
Perfected Security Interest ,
Proof of Claims ,
Risk Assessment ,
Secured Debt ,
Sellers ,
Unsecured Debt ,
Vehicle Title
This article is part of a series of articles and webinars Hudson Cook will present over the coming weeks addressing the CFPB's Notice of Proposed Rulemaking on Debt Collection (the "Proposals"). While the Proposals, if...more
7/2/2019
/ Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
FDCPA ,
Notice of Proposed Rulemaking (NOPR) ,
Public Comment ,
Skip Tracing ,
Time-Barred Debt ,
Unfair or Deceptive Trade Practices