Yesterday the Consumer Financial Protection Bureau (CFPB) issued a report titled “Credit Invisibles” (link to report). The report concludes that one in 10 adults in the United States, or about 26 million consumers, are “credit invisible.” Consumers that are credit invisible do not have a credit history with any of the three nationwide credit reporting […]
This is the only event each year that provides a forum for these executives to interact candidly with peers who have similar challenges, in a sales-free environment. There is no exhibit hall, and only a small number of sponsors, whose representatives have the background that allows them to contribute productively to the conversations.
Over the first quarter of 2015, the number lawsuits filed by consumers claiming violations of the Fair Debt Collection Practices Act (FDCPA) is up compared to the same period in 2014, a reversal of a three year trend in those types of actions. TCPA cases are down in the same time frame, also a change from recent trends.
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 Board of Directors of ACA International, the association of credit and debt collection professionals, has unanimously voted to support legislation and policy changes that would bring an end to the Department of Justice program known as “Operation Choke Point.”
On May 7, 2015 at 2 p.m. EDT RevSpring will host its next webinar, “Conducting an Enterprise Risk Assessment.”
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 .
A federal judge in Illinois two weeks ago dismissed an FDCPA class action filed against a debt buyer and its contracted collection agency over the use of the word “transferred” in a collection letter explaining why a new company was attempting to recover the debt. The case had been granted class action status and will be appealed to the Seventh Circuit.
It seems as though there is a mobile app for everything these days, including collecting information for TCPA suits. Two mobile applications allow consumers to create legal documentation of unwanted robocalls, telemarketing calls, and debt collection calls. The information is forwarded to law firms specializing in filing lawsuits against businesses using robocalls and engaging in debt collection activities.
The Connecticut Better Business Bureau is warning consumers about a “relentless scandal” involving fake debt collection calls.