The total number of lawsuits filed by consumers claiming violations of the Fair Debt Collection Practices Act (FDCPA) increased substantially in June. The increase was 16% over the same time last year. There was also a double digit increase from the prior month. According to data from Web Recon, Telephone Consumer Protection Act (TCPA) cases […]
The Compliance Professionals Forum held local meetings last week for compliance peers in Rochester, NY and Wheaton, IL. The groups shared information and best practices about TCPA, policies and procedures, and their most pressing pain points.
Come October, Maine’s FDCPA language will be amended/updated via House Bill 753 (LD 1092). Specifically: These changes will be of especial interest to any agency collecting debt from consumers who reside in Maine. Per DBA International, Specifically, the new law: Requires written payment schedules or settlement agreements be provided to the consumer, Reaffirms the six year […]
Attorney General Schneiderman’s philosophy, specifically relating to the NYS Debt Collection Law and Rules, is that by providing a clear framework, it will make things easier for those legitimate companies, and significantly more challenging for those not interested in playing by the rules.
These collectors operate outside the purview of the CFPB and with the full authority of those government agencies. These collectors frequently charge exorbitant fees and often hold the ability to effect wage garnishments, arrest, and even foreclosure against consumers. The consumers most vulnerable economically, are often caught in this cycle compounding the possibility of mistreatment.
Some questions had definite answers from panelists; however, many of the questions highlighted confusion within the laws and regulations themselves. While the FTC requires one thing, the CFPB may require something entirely different — and often contradictory. And because there is little cohesion among state laws, compliance suffers across the board. Still, even recognizing the areas of confusion can help an agency in their compliance plan. Better still, though, would be some kind of definitive answer.
You should probably stop charging convenience fees. You also probably won’t listen to me, or to your compliance team. But convenience fees are proving to be ironically named, and a sure-fire way to involve your agency in a class action lawsuit — at the least.
West Virginia had once been described as one of the most treacherous states within which to conduct debt collection business. Collection agencies were frequently sued by consumers for contact after the consumer alleged to have retained an attorney. Some updates to the West Virginia Consumer Credit Protection Act, however, could offer both clarity and protections for collection agencies.
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.
DBA International is hosting a webinar on Wednesday, April 22nd on understanding the new risks in the bankruptcy claim process. Companies that participate in the bankruptcy claims process have faced a flood of litigation since the 2014 Crawford opinion by the Eleventh Circuit Court of Appeals.