Yesterday the CFPB announced that a New Jersey law firm and a debt purchasing company had agreed to pay $2.5 million in response to the agency’s assertions regarding the filing of “mass-produced” lawsuits. The law firm, Pressler & Pressler, issued a strong response, noting that no restitution or invalidation of judgments was required in the agreement, and that the settlement is not about laws or rules that are currently in place.
In an April 1, 2016 letter the Massachusetts Division of Banks (Division) has reversed its position regarding licensing of law firms as debt collectors in the state. The Division now says that a Massachusetts law firm and/or other similarly situated law firms will not need to become licensed to engage in debt collection in the Commonwealth. This single issue seems to have been a gigantic waste of time and resources.
Yesterday the United States Supreme Court heard oral arguments in the case of Pamela Gillie, et al. (Plaintiff), v. Law Office of Eric A. Jones, LLC, et al. (Defendant). This is the first case in ten years regarding the FDCPA to be heard by the highest court, Ohio state officials are looking to overturn a […]
Yesterday insideARM reported on a putative class action lawsuit filed against B of A. We were since made aware of a previous case involving the same Plaintiff’s attorney and similar facts.
“It would seem that legislative canon that purports to better regulate those institutions deemed ’too big to fail’ is unwittingly creating a class of banks that may be ‘too small to succeed.’” M&T CEO Bob Wilmers in his latest annual letter to shareholders. I personally would credit the genesis of the phrase “too small to succeed” to […]
Brooklyn Heights, OH — Weltman, Weinberg & Reis Co., LPA (WWR), a full-service creditors’ rights law firm, welcomes Attorney David Mullen to its Brooklyn Heights, Ohio office. Mr. Mullen will practice in general consumer collections and legal matters. Prior to joining WWR, his experience included class action, mass tort, and other civil matters. Mr. Mullen […]
ATLANTA, Ga. – Brock & Scott, PLLC is pleased to announce an expansion of its Collections practice group in Georgia with the acquisition of Craig R. Goodman Law Offices, LLP, located in Atlanta. Craig R. Goodman Law Offices has been a collections and legal recovery leader serving clients across the state of Georgia for over […]
Weltman, Weinberg & Reis Co., LPA (WWR), a full-service creditors’ rights law firm, is proud to announce the election of three new Shareholders: David S. Brown, Ted M. Traut, and David A. Wolfe. “I am thrilled to welcome this talented group of lawyers as shareholders of the firm. Each exemplifies the professionalism and commitment to excellence in client […]
In a January 15, 2016 article in American Banker Magazine (Banks Can Use ‘Code of Ethics’ to Strengthen Public Trust), Robert Taylor points out “…an advantage of developing an ethics code is that, unlike bank regulatory policy that must be adjusted constantly depending on the jurisdiction and interpretation, ethical standards are basically timeless. In fact, […]
On January 8, 2016 a Federal Judge in California approved a settlement in the matter of 4EC Holdings v. Linebarger Goggan Blair & Sampson (Case No 3-14-cv-01944, N.D. California) whereby the defendant law firm will pay $3.4 million dollars to resolve claims made in a class action proceeding that the firm violated the California Unfair […]