In a precedential opinion rendered last week, the U.S. Court of Appeals for the Third Circuit held that the disclosure of a consumer’s account number through the transparent window of a debt collector’s envelope violates...more
The CFPB, together with the FTC, has filed an amicus brief in Hernandez v. Williams, Zinman & Parham, P.C., a Fair Debt Collection Practices Act case on appeal to the U.S. Court of Appeals for the Ninth Circuit. ...more
The New York Attorney General recently announced a settlement with Forster & Garbus, a large debt collection law firm that had filed collection actions against consumers arising out of payday loans. Specifically, Attorney...more
The debt collection industry continues to be a major focus of the Federal Trade Commission’s enforcement efforts, as shown by the agency’s decision to simultaneously announce two settlements last week with Tennessee and New...more
The U.S. Court of Appeals for the Sixth Circuit recently articulated a standard for verifying a debt under the Fair Debt Collection Practices Act (FDCPA) in Haddad v. Alexander, Zelmanski, Danner & Fioritto, PLLC. The FDCPA...more
The CFPB published a notice in the Federal Register today announcing that it will continue to take comments until August 22, 2014 on its plans to seek approval from the Office of Management and Budget “to conduct a mail...more
The West Virginia Legislature recently passed H.B. 4360, which amended Section 46A-2-128 of the West Virginia Code, that defines what constitutes unfair or unconscionable debt collection activities. The amendments are...more
A joint comment letter on the CFPB’s ANPR on debt collection practices was submitted by the American Bankers Association, the Consumer Bankers Association, and the Financial Services Roundtable. In their letter, the trade...more
Last Friday, the CFPB published a notice in the Federal Register about its plans to seek approval from the Office of Management and Budget “to conduct a mail survey of consumers to learn about their experiences interacting...more
The CFPB will be publishing a notice in tomorrow’s Federal Register indicating that it plans to seek approval from the Office of Management and Budget “to conduct a mail survey of consumers to learn about their experiences...more
A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because it stated that the debtor could only dispute the debt in writing, the U.S. Court of Appeals for the Fourth Circuit has ruled. The Fourth...more
In a per curiam decision last week, the U.S. Court of Appeals for the Eleventh Circuit suggested that percentage-based debt collection fees are permissible under the Fair Debt Collection Practices Act (FDCPA) if they are...more
A proposal by the New York Department of Financial Services (DFS) would substantially drive up the costs of bringing consumer debt collection actions in the state. The DFS is seeking stronger court rules for obtaining default...more
The Federal Trade Commission recently announced that it had settled a case representing its first action challenging a debt collector’s use of text messages.
In its complaint, the FTC alleged that the defendant debt...more
The New York Department of Financial Services (DFS) has proposed new regulations that would impose significant disclosure and other requirements on persons engaged in the collection of consumer debts....more
The Office of the Comptroller of the Currency (OCC) has made clear that all national banks and federal savings associations can expect increased scrutiny of their debt sales practices, as well as supervisory guidance...more
Collection documentation and medical debts proved to be the focus of much of yesterday’s Senate Banking Committee hearing on the debt industry. The witnesses were Corey Stone, CFPB Assistant Director, Office of Deposits,...more
The Consumer Financial Protection Bureau made clear that debt collection continues to be a major focus by issuing two new bulletins and five action letters for consumers to use when responding to debt collectors....more
A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because it stated that the debtor could only dispute the debt in writing, the U.S. Court of Appeals for the Second Circuit has ruled....more
The Consumer Financial Protection Bureau’s second annual report to Congress on enforcement of the Fair Debt Collection Practices Act (FDCPA) confirms that debt collection will continue to be a major CFPB focus in 2013....more
A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because its invitation to call a toll-free number could be read by the “least sophisticated debtor” to permit the debt to be effectively disputed by...more
The Federal Trade Commission’s continuing focus on the debt collection and debt relief industries was clearly demonstrated by several recently announced lawsuits and settlements....more
The Federal Trade Commission has issued a report, The Structure and Practices of the Debt Buying Industry, which the FTC has described as “the first of its kind” empirical study of debt buyers. ...more