The Uniform Law Commission announced in late July that it has formed a committee to study the feasibility of having uniform state laws on the transfer and recording of consumer debt. The influential group will also look at the viability of a universal registration system to record and track such transactions.
The Consumer Financial Protection Bureau Thursday announced the latest additions to its three advisory boards, including seven new members of its Consumer Protection Advisory Board. Joann Needleman, VP at law firm Maurice & Needleman and current President of the National Association of Retail Collection Attorneys (NARCA), was named as one of the new members.
The Third Circuit Court of Appeals Thursday said that a collection agency violated the Fair Debt Collection Practices Act (FDCPA) when it sent a collection letter with the debtor’s account number visible through the transparent address window of an envelope.
Our highly-regulated industry is replete with acronyms and regulations. Over the past year, many organizations have been setting up a Compliance Management System (“CMS”) to meet client requirements and to prevent costly lawsuits and fines. But are agencies focusing on the right thing? Or are they spinning their wheels and wasting money?
For-profit higher education firm Corinthian Colleges revealed in a recent SEC filing that the CFPB has initiated settlement talks relating to an enforcement action over the company’s debt collection tactics and treatment of certain loans.
Brandon Scroggin had an air-tight FDCPA claim against a debt collection agency. It was such a solid case, the company offered him a $5,000 settlement to make it go away. But now Scroggin owes the agency more than $33,000 to pay their attorney’s fees. So how did he go from five grand up to 33-large in the hole?
The Consumer Relations Consortium (CRC) announced today that it will be sponsoring Consumer Action’s 2014 fundraising event, the Consumer Excellence Awards. This 43rd annual event will take place on the evening of Oct. 21 at Google’s new Washington, DC headquarters.
United States District Judge Denise Cote has dismissed all claims brought by the New York State Professional Process Servers Association, a process serving agency and an individual process server against the Department of Consumer Affairs (DCA), its attorneys and administrative law judges.
As collection agencies reassess third-party relationships, they must find ways to calibrate oversight to the delegated activity. Layering new requirements into contracts has proved challenging, and in many instances, the new oversight requirements have eroded the economic case for outsourcing.
Lawsuits against ARM firms citing violations of the FDCPA increased slightly in July, but were still on pace to finish far below the number filed in 2013. TCPA lawsuits also bucked their 2014 trend by decreasing on a month-over-month basis, but still remain on pace to grow significantly for the year.