A federal judge in Indiana last week dismissed part of an enforcement action brought by the Consumer Financial Protection Bureau (CFPB) against a for-profit college under the Truth in Lending Act (TILA) because TILA actions are subject to a one-year statute of limitations. A collection law firm currently embroiled in a nasty legal fight with the CFPB jumped on the opportunity to note that the FDCPA carries similar restrictions.
Today, the Consumer Financial Protection Bureau released a study indicating that arbitration agreements restrict consumers’ relief for disputes with financial service providers by limiting class actions.
A recent trend has evolved in FDCPA litigation where courts have allowed bankrupt debtors to file FDCPA claims based on the alleged invalidity of a proof of claim filed by a third party collector and/or debt buyer. But a precedential Circuit Court ruling Tuesday appears to limit the timing of some of those suits.
Kentucky Higher Education Student Loan Corporation (KHESLC) today is issuing a Request for Proposal (RFP) for Collection Services for accounts held by the organization outside of Kentucky.
At a symposium in midtown Manhattan Thursday, three representatives from New York City and state financial regulators provided some clarity to recently-enacted rules impacting collection agencies, debt buyers, and collection law firms operating in the state.
The partners at a collection law firm needed to make sure a particular move was in the firm’s best interests. To do so, they engaged Topline Valuation Group to determine the fair market value of the enterprise.
A long-established exception to the FDCPA’s “least sophisticated consumer” standard has been communications with consumers’ attorneys. Because how could it be argued that an attorney is not “sophisticated?” But a recent Circuit Court ruling opened new ground on that front when it found that some communications with attorneys should be held to the standard.
Marketing in the ARM Industry, no doubt, has its many differences from a national campaign, but we can still learn from larger campaigns and commercials.
The National Association of Retail Collection Attorneys (NARCA) has announced that early registration for the NARCA 2015 Spring Collection Conference in Nashville, May 6-9, is now available through March 25th. Early registration provides a discounted rate for NARCA members, non-members, credit grantors and clients.
A collection agency that saw a Sixth Circuit Court of Appeals decision go against it last month has filed a petition for rehearing and rehearing en banc with the Court. The case involved a settlement offer on a time-barred account. The collector initially won the case and the Sixth Circuit reversed that ruling in a split decision that carried a strong dissent.