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Fair Debt Collection Practices Act Financial Services Industry State Attorneys General

Venable LLP

Navigating the New Consumer Financial Services Landscape: Enforcement, Compliance, and Litigation Risks

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Financial services companies may feel relief from the aggressive federal oversight and regulation that defined the past decade. However, regulatory risk has not disappeared—it has shifted. ...more

Hudson Cook, LLP

Technical Violations of State Collection Practices Laws Can Lead to Class Action Liability

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If you are reading this article, you are likely aware that a creditor collecting its own debts in its own name is not a "debt collector" under the federal Fair Debt Collection Practices Act ("FDCPA") or its implementing rule,...more

Ballard Spahr LLP

CFPB settles claims against operator of training program arising out of income share agreements

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The CFPB recently announced the settlement of a bankruptcy court adversary proceeding filed jointly with the Attorneys General of 11 states against Prehired, LLC (Prehired) and two affiliated companies (Prehired Affiliates)...more

Troutman Pepper Locke

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

Troutman Pepper Locke on

On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Hudson Cook, LLP

CFPB and New York AG Announce Settlement that Includes Permanent Industry Bans Against Debt Collection Companies and Employees

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HIGHLIGHTS: CFPB and the New York Attorney General ("NY AG") announced a proposed settlement of a lawsuit—originally filed in September 2020—against six interrelated companies and five individual defendants. The various...more

Goodwin

New York AG Recovers $1.2 Million from Debt Collection Company

Goodwin on

On November 23, 2021, New York Attorney General Letitia James (“New York AG”) announced that her office entered into an agreement with a debt collection company to resolve allegations that the company violated the Fair Debt...more

Goodwin

Pennsylvania AG Settles with Student Loan Debt Buyer for $2.6 Million

Goodwin on

On April 6, 2021, the Pennsylvania Attorney General (Pennsylvania AG) announced that it reached an agreement with a Texas-based debt buyer concerning a portfolio of student loan debt it purchased from a now-defunct for-profit...more

Ballard Spahr LLP

CFPB and New York AG allege deceptive and harassing collection efforts in lawsuit against five debt collection companies and four...

Ballard Spahr LLP on

Last week the CFPB and New York Attorney General filed a lawsuit against five debt collection companies and four individuals who own and manage the companies. The complaint alleges the defendants used deceptive, harassing,...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – May 2020

Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies....more

Ballard Spahr LLP

State AGs enter into settlement with debt buyer to resolve robosigning allegations

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The Attorneys General of 42 states and the District of Columbia (collectively, the States) have entered into an Assurance of Voluntary Compliance/Assurance of Discontinuance (Agreement) with Encore Capital Group, Inc. and its...more

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