NPR, in collaboration with ProPublica, is running a series of articles and radio segments this week focused on the practice of wage garnishment and bank account asset seizure by debt collectors.
Debt collection law firm Frederick J. Hanna & Associates filed a motion Friday to dismiss an enforcement action initiated by the Consumer Financial Protection Bureau. The CFPB’s lawsuit accused the firm of filing too many collection lawsuits, which it said was a violation of the FDCPA.
The Arkansas Supreme Court late last week ruled that an out-of-state debt buyer that “retains a licensed Arkansas lawyer to collect on the delinquent accounts and file lawsuits on its behalf in Arkansas” meets the definition of “collection agency” in the state and must be properly licensed as such.
A collection agency that late last month lost an appeal in the Third Circuit has filed a petition for a rehearing, according to ACA International. The case involved an account number being visible through the clear window of an envelope.
ARMing Heroes, the collection industry’s charity for military veterans, today announced the start of the organization’s fifth annual No Debts for Vets Charity Fundraising Drive, which runs from September 11th through Veterans Day, November 11th, every year.
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?
Last fall, Bank of America entered into a $32 million settlement to resolve a TCPA lawsuit over debt collection calls the bank made within its credit card and mortgage units. It has been called the largest TCPA settlement ever. Late last month, the judge in the case drastically lowered the amount of money the plaintiffs’ attorneys will see for their work in the final settlement approval.
As strategic planning is a big focus in the fall for most executives, here are some of our mid-year predictions for the ARM industry.
Follow this simple checklist to ensure that your time and money is well spent when putting together an effective marketing plan.
Hudson Cook, LLP, a nationwide provider of legal compliance services for the financial services industry, announces that it has added as partners two nationally-recognized collections attorneys, Gary Becker and Barbara Sinsley, to its existing collections practice.