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time-is-money

Regulators Urge Caution and Full Disclosure on Time-Barred Debt Collection

At a collection conference in Las Vegas, regulators shared some insight into how they view out-of-statute debt. They called for fuller disclosures to consumers, both on legal action (agencies can’t take any) and responsibility to pay (the consumer, in an out-of-stat-debt situation, has none). Will the insight make it into the Policies and Procedures of collection agencies, though?

lawsuit-gavel

Circuit Court Upholds Award of Fees for Defendant in an Absolutely Crazy FDCPA Case

The 8th Circuit Court of Appeals Friday upheld a lower court’s ruling that a defendant collection agency was entitled to some $33,000 in attorney’s fees and costs in an FDCPA case found to be brought in bad faith and specifically for the purpose of harassment.

Is that interesting enough? No? Well, it involved an outspoken consumer advocate’s gloating posts on a debtor-focused message board, posts that ultimately led to the awarding of fees.

Old Books

The CFPB Has a Back-to-School Reading List for You

LAS VEGAS — During the panel discussion on Impacts of Regulations, Greg Nodler, an enforcement attorney for the Consumer Financial Protection Bureau, suggested that those in the debt industry should spend some time making themselves acquainted with three CFPB Bulletins: CFPB Bulletin 2013-08 (Fair Debt Collection Practices Act and the Dodd-Frank Act) Date: July 10, […]

account-statement-bill-overdue

State AGs Miss the Mark on Business Records in FDCPA Rulemaking Comments

In comments submitted to the CFPB on the Advance Notice of Proposed Rulemaking under the FDCPA, the attorneys general of 31 states condemned the use of third-party prepared, integrated business records in civil lawsuits to collect debt as an example of “unfair, deceptive, and abusive acts or practices.” But many of those AGs use similar records in their own criminal cases.

campos_student_loans

What will the relationship between the Department of Education and debt collectors look like in the future?

The National Consumer Law Center released a pretty one-sided report about the role debt collectors play in collecting student loan debt for the Department of Education. But fear not: Student loan collection is a viable market, no matter how “icky” some might believe it to be. That’s why we created our new report, Student Loans – […]

using-credit-cards

CFPB Warns Credit Card Companies on Marketing Interest Rate Promotions

The Consumer Financial Protection Bureau (CFPB) Wednesday warned credit card companies against deceptively marketing interest-rate promotions. The Bureau is concerned that some companies are luring in consumers with offers of zero or lower interest for a specific purchase or balances transferred from another credit card, and then hitting them with surprise interest charges.