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.
The U.S. Attorney in the Southern District of Indiana announced Wednesday the arrest of the owner of a former debt collection agency and the filing of fraud and other charges related to actions he took in the financing of his company and misrepresentations he made concerning his own financial situation.
The Consumer Financial Protection Bureau (CFPB) Wednesday took its first action against a “buy-here, pay-here” car dealer over illegal debt collection and credit reporting practices.
Hollis Cobb hires David A. Prado, Esq. as General Counsel. David will serve a significant role in providing leadership and direction for Hollis Cobb’s compliance efforts.
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.
The GFKL Group, a leading receivables management provider, has acquired Deutsche Multiauskunftei GmbH, a risk management specialist.
Delta Outsource Group, Inc. is proud to announce that Jennifer Heinzl has joined the organization, working as the Director of Client Experience.
Accounts receivable management form ConServe announced the following managerial promotions and assignments:
Credit grantors and third party ARM firms alike are taking a closer look at their compliance procedures and systems. And with good reason. Though an already tight regulatory environment, the increased oversight from the CFPB makes compliance even more critical.
A federal district judge in New York last week dismissed an FDCPA case in which a consumer claimed a collection agency unlawfully disclosed his debt to a third party. The judge not only disagreed with the allegations in the case, but noted that the law itself might be an issue, writing, “The FDCPA is clearly out of touch with modern communication technology.”