Patrick is the senior editor of insideARM.com. Patrick edits the ARM insider and all content appearing on insideARM. His work has appeared in numerous industry trade publications. Since 2002, he has covered or broken nearly every major news story impacting the accounts receivable management industry for insideARM.com. Previously, he was at finance research and consulting firm Corporate Executive Board after initially working in publishing out of college. Patrick holds a Bachelor of Business Administration degree from the University of Georgia, the flagship school of his home state. He currently lives in Silver Spring, Maryland with his wife and two daughters.
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Over the first quarter of 2015, the number lawsuits filed by consumers claiming violations of the Fair Debt Collection Practices Act (FDCPA) is up compared to the same period in 2014, a reversal of a three year trend in those types of actions. TCPA cases are down in the same time frame, also a change from recent trends.
A Senate Committee in the North Carolina legislature this week approved a bill that would soften that state’s requirements for debt collection lawsuits, especially for debt buyers. The prospect of a change to the rules has led to protests from some lawmakers and consumer advocates.
Phillips & Cohen Associates, Ltd. (PCA), a global leader in compassionate recovery services, is pleased to announce the appointment of Matthew Winnington as Vice President of Internal Audit/Risk & Controls.
A federal judge in Illinois two weeks ago dismissed an FDCPA class action filed against a debt buyer and its contracted collection agency over the use of the word “transferred” in a collection letter explaining why a new company was attempting to recover the debt. The case had been granted class action status and will be appealed to the Seventh Circuit.
The Connecticut Better Business Bureau is warning consumers about a “relentless scandal” involving fake debt collection calls.
The Federal Trade Commission announced Thursday that it is launching a series of “Debt Collection Dialogues” around the country. The meetings will feature representatives from the FTC and other regulators and will specifically focus on questions and comments from members of the debt collection industry.
Just in case there was a doubt about what the consumer bar is really after, a prolific attorney that targets the ARM industry argues that the CFPB is “ineffective” in its regulatory efforts because it doesn’t get enough money from collection agencies and debt buyers to settle consumer complaints.
The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) Tuesday announced a settlement with a national mortgage servicing company over charges that it engaged in illegal debt collection and loan servicing practices.
The Third Circuit Court of Appeals earlier this month reversed a lower court’s ruling in a case brought against Bank of America in which the plaintiff alleged FDCPA violations on the part of a law firm collecting on BofA’s behalf. The defendants argued that the FDCPA does not apply to attorneys engaged in the practice of law, which the Circuit panel rejected.
In the first three months of 2015, more debt collection complaints were published by the Consumer Financial Protection Bureau (CFPB) than in any previous quarter. The record period was driven by a big jump in complaints in March, with the total likely to rise even more over the next few weeks.