The Weekly Standard has just published an article written by attorney and former regulator Ronald L. Rubin that you will want to read. In the post, Rubin shares his insider experience as a former enforcement attorney with the CFPB, leading one of the Bureau’s first two debt collection investigations.
If someone were to review the approximately 10,000 FDCPA cases that are filed each year, he or she would find that there are very few lawsuits brought against collectors of decedent debt. The reason there are so few lawsuits is simple.
FMA Alliance was honored to be selected to participate last Thursday on the CFPB’s historic Small Business Review Panel (SBREFA) for debt collection rulemaking in Washington D.C. I represented FMA Alliance, along with 19 other Small Entity Representatives (SERs), to provide advice, input, and recommendations regarding the outline of proposed debt collection rules. The CFPB […]
As the only law firm small entity representative (SER) to participate in a second SBREFA panel, I came to the process with a certain level of comfort, but with preconceived notions of how the process would unfold. While the process was similar, the overall feel of the panel that convened on August 25, 2016 to engage the CFPB on Debt Collector and Debt Buyer Rulemaking was very different.
Yesterday, I was honored to be among the small business representatives who testified in front of the Small Business Review Panel for the CFPB Debt Collector and Debt Buyer Rulemaking. We testified from 9:00 AM to 5:00 PM; the feedback centered around three main themes.
The Massachusetts Division of Banks and the Massachusetts Office of the Attorney General have scheduled a meeting to seek input on the current state of debt collection and debt collection regulation within the State. They are considering whether changes may be warranted. This announcement comes, literally, at the same time the CFPB holds its debt collection SBREFA hearing in Washington, D.C.
ROCKVILLE, Md. — The Consumer Relations Consortium (CRC) announced today that Coast Professional, State Collection Service, Windham Professionals, Afni, and Radius Global Solutions, have recently joined as new members. The CRC is a membership group for “larger market participants” in the debt collection industry (defined as those firms with $10M or more in annual revenue from collection […]
The debt collection proposals outlined by the CFPB for the SBREFA panel are driven in large part by the CFPB’s reliance on the data derived from its complaint portal and a consumer survey conducted by the Bureau over several months in 2014-15. The survey results are remarkable in how closely they mirror the complaint portal data.
When collectors get sued in an FDCPA action, they face a steep uphill battle. Courts apply the very pro-consumer “least sophisticated debtor” standard when evaluating a collector’s communications, and most violations of the Act are “strict liability.” However, courts have gradually been demanding more and have rejected suits based on hyper-technicalities.
Relying on the Supreme Court case of Spokeo v. Robbins, (136 S.Ct. 1540 (2016), on August 5th United States District Court Judge Cathy Ann Bencivengo dismissed a plaintiff’s Telephone Consumer Protection Act (TCPA) claim for lack of standing.