There’s an irritating dinner-party-conversation-starter topic about how, because of physics and aerodynamics, bumblebees shouldn’t be able to fly. It’s a ridiculous argument because: (a) bumblebees have been flying just fine since there were bees to bumble; and (b) it’s not like if you told a bumblebee, “Hey, you, with the bumbles: did you know you […]
Interactive Intelligence Group Inc., a global provider of software and services designed to improve the customer experience, is hosting a no-cost Web event* titled, “The Pitfalls of TCPA and Its Impact on Your Business,” to be held Tuesday, April 29 at 11:30 a.m. Eastern time (EDT). Already attracting more than 650 registrants, this 75-minute webcast […]
The Social Security Administration announced Monday that it will immediately stop efforts to collect on taxpayers’ debts to the government that are more than 10 years old. This means the SSA will no longer seize state and federal refunds from people who had relatives who owed money to the agency. While the SSA will no longer seize federal and/or state refunds to pay for government debts past the federal statute of limitations, this does not have any impact on other time-barred debts on a state-by-state basis.
The CFPB and FTC this week said in a court brief that “actual or threatened litigation is not a necessary predicate for an FDCPA violation in the context of time-barred debt.” The brief argues that under certain circumstances, a settlement offer — and other collection activity — on an out-of-statute account can mislead the consumer and could be a violation of the FDCPA.
Market changes since the FDCPA’s passage in 1977 and the postcrisis shift toward regulation have opened the door to significantly enhanced consumer protections. The CFPB’s rulemaking has the potential to alter dynamics in every corner of the industry, from reducing recovery rates and limiting post-charge-off sale options and pricing to driving further consolidation by firms with sophisticated processes, systems, and controls.
The DBA International Certification Council is pleased to announce the approval of seven firms to perform independent third-party audits for Certified Professional Receivables Companies (CPRC) as part of DBA International’s Debt Buyer Certification Program
U.S. Representative Steve Cohen (D-Tenn.) late last week introduced a bill that would amend the Fair Debt Collection Practices Act (FDCPA) to specifically outlaw nationwide the filing of collection lawsuits on accounts that are beyond the statute of limitations. The bill also places new requirements on disclosures collectors must provide regarding out of statute debt.
In two separate segments airing on consecutive days, the FOX News morning show FOX & Friends took on the debt collection industry with an eyebrow-raising level of misinformation and general sloppiness. The segments focused on dealing with abusive collectors and negotiating settlements for debt.
A report released Thursday from the National Consumer Law Center claims that states have failed to protect the assets and income of consumers who have had a judgment entered against them in debt collection cases. The narrowly-focused report is being hyperbolically marketed under the subtitle, “How States Let Debt Collectors Push Families into Poverty.”
A new report from the National Consumer Law Center detailing state exemption laws for debt collectors paints a grim picture of how small statutes could have a big impact on consumer finance. And while the report has the debt collection industry talking – ACA International issued a scathing response – there’s a larger conversation to […]