For-profit higher education firm Corinthian Colleges revealed in a recent SEC filing that the CFPB has initiated settlement talks relating to an enforcement action over the company’s debt collection tactics and treatment of certain loans.
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.
The Consumer Financial Protection Bureau (CFPB) Monday announced an enforcement action against Global Client Solutions, a leading debt-settlement payment processor, for allegedly helping other companies to collect tens of millions of dollars in illegal upfront fees from consumers.
The comment period for the CFPB’s proposal to survey consumers about their experiences in debt collection ends today, Friday August 22.
The Federal Trade Commission has joined the CFPB in filing an amicus brief in the matter of Hernandez v. Williams, Zinman & Parham, P.C before the U.S. Circuit Court of Appeals for the Ninth Circuit. The case concerns the interpretation and enforcement of the Fair Debt Collection Practices Act (FDCPA).
The Consumer Financial Protection Bureau (CFPB) Wednesday announced that it is taking action against an auto finance company that distorted consumer credit records for years.
NPR’s The Diane Rehm Show aired a segment yesterday called “Inside America’s Debt Collection Industry.” Among the four guests, there were no representatives from the debt collection industry. What’s also interesting is that, in fact, most of the discussion was not about third party debt collectors, but creditors, debt buyers, and credit reporting agencies.
Five U.S. senators have urged the Department of Defense and the Consumer Financial Protection Bureau to investigate allegations that “aggressive debt collection actions” are being used by USA Discounters and similar retailers against active duty service members.
Columbia Ultimate, an expert in technology and integrated solutions for the collection industry, announced today the addition of a Consumer Financial Protection Bureau (CFPB) session to the 2014 Art of Success conference, to be held Sept. 15-19 at the Portland Marriott Downtown Waterfront in Portland, Oregon
Should the Consumer Financial Protection Bureau issue guidance about what it considers appropriate attorney oversight when filing debt collection lawsuits? According to a recent insideARM.com home page poll, readers are split on the issue. According to the poll, 64 percent of poll participants generally believe that the CFPB should provide guidance on attorney oversight. But […]