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FDCPA

The Fair Debt Collection Practices Act (FDCPA) was enacted in 1977 to protect consumers from abusive, unfair, and deceptive practices by third-party debt collectors. The law details when and how a collector may contact a debtor. The government enforcer of the law has historically been the Federal Trade Commission (FTC), but some regulatory duties may be shared with the Bureau of Consumer Financial Protection housed within the Federal Reserve, created in 2010.

The FDCPA is a strict civil liability law, which means that a consumer need not prove actual damages in order to claim statutory damages of up to $1,000 per violation plus reasonable attorney fees.

It is commonly believed that the FDCPA will be amended and/or updated in the 112th Congress (2011-2012).

The complete Fair Debt Collection Practices Act (PDF, 326 KB)

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insideARM Perspective on CFPB Proposed Debt Collection Rules – Communication Part 1

Earlier today we reported that the CFPB has taken the long-awaited next step in debt collection rulemaking activity by releasing an Outline of Proposed Rules in advance of the required Small Business Regulatory Enforcement Fairness Act (SBREFA) consultation process. The formal SBREFA hearing is scheduled for the week of August 22. The Outline of the CFPB’s […]

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CFPB Outlines Debt Collection Rulemaking Proposals

The Consumer Financial Protection Bureau (CFPB) has released its long-awaited Outline of Proposed Rules governing third-party debt collectors. The proposal, released in advance of today’s 2:00 PM EDT CFPB Debt Collection Field Hearing in McClellan Park, California, is 117 pages and covers a wide range of topics that had been raised nearly three years ago […]

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FDCPA Victory in Class Action Letter Case: What It Means for the Industry

Debt collection letters continue to provide an expansive target for FDCPA and related lawsuits due to the panoply of Federal and State disclosure requirements for such letters. Further, the Court cases interpreting these requirements are in constant flux and new decisions sometimes contradict previous rulings. In a rare win for the collection industry, a recent case out of the Eastern District of New York rejected a consumer’s FDCPA claims brought in a putative class action and premised on language included in a collection letter. What does this bode for the industry?

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FDCPA Case Law Review for June 2016

insideARM maintains a free FDCPA resources page to provide the ARM community a destination for timely and topical information on the Fair Debt Collection Practices Act (“FDCPA”). This page is generously supported by TransUnion. See the page here or find it in our main navigation bar from any page on insideARM.  The cornerstone of the page is a chart of significant […]

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MD Penn. Holds Notice Explaining Tax Consequences of Debt Cancellation Could Be Misleading

This article previously appeared on The Consumer Financial Services Blog and is republished here with permission.  The U.S. District Court for the Middle District of Pennsylvania recently denied a debt collector’s motion to dismiss, holding that a collection notice describing the potential tax consequences of settlements involving cancellation of indebtedness of $600 or more may be misleading […]

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CFPB Issues Supervisory Highlights Report, Includes Warnings for Creditors, Debt Buyers, Collection Agencies, and Law Firms

The Consumer Financial Protection Bureau (CFPB) is highlighting recent enforcement activity with the release of its latest Supervisory Highlights report. This report focuses on activities during the first quarter of 2016, showcasing supervisory actions that the Bureau says resulted in the remediation of approximately $30 million to more than 250,000 consumers. You can read the […]