West Virginia had once been described as one of the most treacherous states within which to conduct debt collection business. Collection agencies were frequently sued by consumers for contact after the consumer alleged to have retained an attorney. Some updates to the West Virginia Consumer Credit Protection Act, however, could offer both clarity and protections for collection agencies.
A date has been set for oral arguments on a motion to dismiss the lawsuit brought by the CFPB against Georgia law firm Frederick J. Hanna & Associates P.C. The hearing is set for June 3, 2015 at 2:00 PM EDT in Atlanta. insideARM has been monitoring and reporting on the case since its inception. […]
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.
The U.S. Supreme Court has agreed to hear an important case that will decide whether a plaintiff who cannot show any actual harm from a violation of the FCRA nevertheless has standing to sue for statutory damages in federal court. The consequences of the decision will likely extend significantly beyond FCRA litigation and affect numerous other statutes, including the FDCPA and TCPA .
Financial services law firms Maurice & Needleman and McGinnis Wutscher today announced they have joined forces to better serve their clients in key cities nationwide. The alliance now enables the two firms to provide the services of 24 lawyers in 10 offices in the Northeast, Southeast, Midwest and West.
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 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.
The iA Institute, publisher of insideARM.com, is hosting the second annual ARM-U learning conference in June. This year, ARM-U has been reconfigured as a virtual event featuring six operations and compliance-focused webinars over two days.
A committee in the Oregon House of Representatives next week will consider a bill that could place extensive new requirements on debt buyers that file collection lawsuits against consumers. In a public hearing late last month, debt buyers expressed opposition to the bill as introduced noting “this legislation has very significant problems.”
Attorney General Eric T. Schneiderman Wednesday announced a settlement with a publicly traded debt buyer that the AG said was prompted by the ARM firm’s practice of “bringing improper debt collection actions against hundreds of New York consumers” specifically on debts that were time-barred under state law.