ACA International, the trade association for debt collectors, and DBA International, a group that represents debt buyers, issued statements Wednesday commending federal prosecutors for bringing down a large debt collection scam operation.
A U.S. Circuit Court decision this summer took an extraordinary step when it held that filing a proof of claim on time barred debt is conduct that violates the FDCPA. At the time, attorneys close to both bankruptcy and FDCPA proceedings warned that it would touch off a very real firestorm in that sector of the ARM industry. That has proven to be quite true.
DBA International, the voice of the debt buying industry, commends the Federal Trade Commission (FTC) on its leadership role in the recently announced security measures that provide guidance to ensure that adequate security protocols are followed which offer greater protection of consumer data during the review of portfolios in the buying and selling valuation process.
The United States Trustee Program, a division of the Justice Department, is investigating several of the largest consumer lenders in the country over their debt collection and portfolio sales tactics relating to accounts owed by consumers under bankruptcy protection, according to The New York Times.
In the wake of a settlement with a debt portfolio broker over the public disclosure of sensitive consumer information, the FTC Wednesday published steps debt buyers and sellers can take to secure consumer data.
PRA Group (Nasdaq:PRAA), a world leader in acquiring non-performing consumer debt, today reported its financial results for the third quarter 2014. These results include the effect of the company’s Aktiv Kapital acquisition since the transaction closed on July 16, 2014.
DBA International, the voice of the debt buying industry, today announced the addition of Helen Mac Murray as its attorney general consultant and Perry Communications Group, Inc. (PCG) as its new public affairs agency.
International operations contributed more than one fourth of the quarter’s collections, which grew meaningfully to $407 million.
Minnesota Attorney General Lori Swanson announced Thursday that her office has filed a lawsuit against TJ Process Service, a Minnesota process serving company, and one of its process servers for falsely claiming that some individuals were served with debt collection lawsuits.
The Federal Trade Commission has settled a case alleging that a debt broker disclosed too much personal information about debtors in online postings marketing their portfolios for sale. The agency filed a lawsuit in DC federal court Friday to formalize the settlement, with the judge issuing an order yesterday accepting the settlement terms.