In an Opinion Letter letter dated Nov. 2, the Massachusetts Division of Banks declared that collection law firms in Massachusetts are required to obtain a debt collector license pursuant to Mass. Gen. Laws Ch. 92, § 24 et. seq. The Opinion Letter was in response to correspondence from a Massachusetts collection law firm inquiring whether the firm, self-described […]
This article is republished with permission from Michael P. Daly, John S. Yi, and Drinker Biddle & Reath LLP. It originally appeared on www.tcpablog.com. On November 25th, joint petitioners ACA International, Sirius XM, PACE, salesforce.com, ExactTarget, Consumer Bankers Association, U.S. Chamber of Commerce, Vibes Media, and Portfolio Recovery Associates (“Petitioners”), filed their opening brief in the consolidated appeal of the FCC’s July 10, 2015 Declaratory […]
Last week the U.S. Court of Appeals for the 7th Circuit affirmed a District Court ruling against Nationwide Credit Corporation in an FDCPA case involving the “bona fide error” defense. In part, the court said the collector failed to show it maintained procedures sufficient to avoid the type of violation in question.
Last week the Federal Deposit Insurance Corporation (FDIC) reissued FIL-14-2005 “Payday Lending Programs: Revised Examination Guidance” and its attachment, “Revised Guidelines for Payday Lending,” to clarify that bankers and others are aware that it does not apply to banks offering products and services, such as deposit accounts and extensions of credit, to non-bank payday lenders. […]
This week the CFPB issued a Compliance Bulletin concerning the Electronic Fund Transfer Act and Regulation E requirements for obtaining a consumer’s authorization for preauthorized electronic fund transfers. The Bulletin also outlines the CFPB’s compliance expectations.
Earlier this month the U.S. District Court for the Middle District of Florida granted Defendant’s motion for Partial Summary Judgment in Thomas Estrella v. LTD Financial Services, LP (LTD). The Plaintiff claimed that LTD placed calls to his cell phone using an ATDS without prior consent. LTD argued that it manually dialed those calls.
In a decision filed on October 23, 2015, U.S. District Judge Katherine Polk Failla has granted Credit Management LP (CMI)’s motion to dismiss a case against the firm filed by Joy Gardner. This case represents a positive “envelope” decision in what has been a busy couple of years for collection letter rulings.
The FTC wrapped up its three city Debt Dialogue tour in Atlanta, Georgia yesterday afternoon with very animated “dialogues” among regulators and representatives of the credit and collections industry. The wide-ranging discussion covered communication between collectors and consumers, industry self-regulation, collection complaints, and more.
A recent Illinois bill provides a welcome fix to the Illinois Collection Agency Act (ICAA). The legislation, SB 1369, corrects amendments made to the ICAA this past August. Those amendments potentially expanded sections of the ICAA to commercial debt and would require disclosures contrary to (and possibly in violation of) the federal Fair Debt Collection Practices Act. The […]
Court documents were filed yesterday, preliminarily approving the class action settlements in Monique Sykes, et al., vs. Mel S. Harris and Associates, LLC, et al. A Fairness Hearing has been scheduled for May 11, 2016, in the U.S. District Court for the Southern District of New York. The case is a class-action lawsuit originally certified […]