The Primary Group is alleged to have sent consumers multiple text messages, and, in most cases, failing to disclose the company as a debt collector. Per Jessica Rich, Director of the FTC’s Bureau of Consumer Protection: “[Debt collectors] can’t harass or lie to you, whether they send a text, email, or call you.” She also stated that “legitimate debt collectors know the rules.”
According to data provided by WebRecon LLC, FDCPA litigation is trending up in 2015. Litigation was up 10% over last month, and for the first four months of the year, up 12.5% over the same period a year ago.
You should probably stop charging convenience fees. You also probably won’t listen to me, or to your compliance team. But convenience fees are proving to be ironically named, and a sure-fire way to involve your agency in a class action lawsuit — at the least.
The U.S. Supreme Court has agreed to hear an important case that will decide whether a plaintiff who cannot show any actual harm from a violation of the FCRA nevertheless has standing to sue for statutory damages in federal court. The consequences of the decision will likely extend significantly beyond FCRA litigation and affect numerous other statutes, including the FDCPA and TCPA .
The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) Tuesday announced a settlement with a national mortgage servicing company over charges that it engaged in illegal debt collection and loan servicing practices.
At the request of the Federal Trade Commission, a federal court has halted the operations of a company that calls itself “FTC Credit Solutions.” The company allegedly used false affiliation with the Commission to market bogus credit repair services to Spanish-speaking consumers.
Data furnishers and creditors are quickly coming to understand that increased regulatory focus on data accuracy and quality can be hazardous to their wallets.
New research studies from Experian, the leading global information services company, found that by adding on-time alternative payment data to credit report files, millions of consumers could gain access to basic financial services such as loans and credit cards
The CFPB’s Consumer Advisory Board (CAB) meeting in Washington, DC Thursday was used as a platform to reiterate the Bureau’s focus on matters dealing with consumer credit reporting and medical debt, specifically how it is collected and appears on credit reports.
A federal district judge in California late last month dismissed a lawsuit brought against an ARM firm alleging violations under a number of statutes for its promise to mark an account as “paid in full” on a consumer’s credit report even though the consumer was paying only an amount agreed to in a settlement offer.