Harvard researchers find that fewer consumers are using credit cards because government regulations are making it harder for them to open credit card accounts in the first place.
The Consumer Financial Protection Bureau (CFPB) will hold a field hearing today to discuss arbitration. It seems as if the CFPB has engaged the same PR strategist that was used by the FCC last July.
The U.S. District Court for the Eastern District of North Carolina recently rejected a defendant’s arguments that its contract with the plaintiff did not allow revocation of prior express consent under the TCPA, and that the defendant’s telephone communication system was not an “automatic telephone dialing system.”
Another ARM firm is caught in the “no-win” scenario of including so-called 1099(c) disclosures in a letter to a consumer. Many financial institutions are requiring ARM firms to include 1099(c) disclosures in their initial letters to consumers. It is not clear from the pleadings whether the client in this case mandated that their agency include the language in the letter sent to the Plaintiff. But, if so, companies like this defendant are put in an untenable position.
As part of an ongoing investigation, Propublica published a lengthy article by Paul Kiel titled For Nebraska’s Poor, Get Sick and Get Sued. The article discusses the practice of use of litigation to collect delinquent healthcare accounts in the State of Nebraska. It is clear that Mr. Kiel spent a considerable amount of time researching the story before publication. The story is less than flattering to the debt collection industry.
Data can be accurate, but without context it could mislead. That was the message former CFPB Senior Advisor Jim McCarthy delivered to industry attendees of last week’s insideARM Larger Market Participant Summit in Washington, D.C. The CFPB cares about data and accuracy, McCarthy noted, but it is not pairing collections complaint data with necessary context […]
This case provides interesting perspective on how a settlement was apparently reached fairly quickly and efficiently in a TCPA case. Also of note is the fairly broad definition of the Settlement Class.
This article previously appeared on The Consumer Finance Litigation Blog and is republished here with permission. Florida’s Third District Court of Appeal retreated from one of its most unpopular opinions this morning. The Third DCA surprised many with its original ruling in Deutsche Bank Trust Company Americas v. Beauvais¸ 3D14-575 when it split with the Fourth District Court […]
Is the online lending industry growing up? One fintech CEO suggested as much last week at LendIt 2016, the online lending industry’s big annual conference in San Francisco. And that maturity may well rest on the industry’s ability to confront collections and regulation.
On April 7, 2016 a Judge for the US District Court, Eastern District of Texas, granted a motion for Summary Judgment against a Dallas-based debt collector, Commercial Recovery Systems, Inc. (CRS), and its owner Timothy L. Ford, in an FTC enforcement action. The behavior that was identified is appalling. If true, how it developed and continued is beyond belief.