CEDAR FALLS, Iowa – A pair of CBE Companies (CBE) leaders will deliver key presentations at the Midwest Compliance Symposium Sept. 26 -28 in St. Louis. CBE is co-hosting the Midwest Compliance Symposium for all professionals and credit originators of Financial, Telecommunications, Healthcare, Utility and Television industries. Mike Frost, CBE Chief Compliance, Sales Officer and […]
The State of California legislature has amended its requirements for debt collectors who receive consumer claims of identity theft. The law, labeled the Identity Theft Resolution Act, was signed by the Governor on September 16, 2016. The law becomes effective on Jan. 1, 2017.
Yesterday a new Jersey District Court Judge determined that sanctions were not warranted in a FCRA case she had described in a previous opinion as “Fanciful” and “Farfetched.” However, the judge also took the opportunity to highlight an important process issue regarding reporting of bankruptcies.
CFPB argues that concrete harm occurred in FCRA case remanded by Supreme Court to Ninth Circuit.
The U.S. Court of Appeals for the Eleventh Circuit recently reversed in part a trial court’s ruling granting summary judgment in favor of a debt buyer, its affiliated debt collector and their parent company, holding that a reasonable jury could find that the defendants willfully violated the FCRA when they reported two charged-off debt accounts as “verified” without obtaining sufficient documentation that the debts in fact belonged to the plaintiff.
The Consumer Financial Protection Bureau (CFPB) is highlighting recent enforcement activity with the release of its latest Supervisory Highlights report. This report focuses on activities during the first quarter of 2016, showcasing supervisory actions that the Bureau says resulted in the remediation of approximately $30 million to more than 250,000 consumers. You can read the […]
Last week insideARM reported on a case where New Jersey Judge Renée Marie Bumb dismissed what she termed a “frivolous” lawsuit against Experian in the recent, twinned cases Glenn Williams v. Experian and Lorissa Williams v. Experian. The case was interesting for the ARM industry because the Judge discussed “meaningful review or investigation” by an attorney prior to filing a complaint.
Is it acceptable to allege in court that a reasonably accurate credit record is, in fact, not accurate and therefore in violation of the FCRA? Nope. That’s according to U.S. District Court for the District of New Jersey Judge Renée Marie Bumb, who dismissed what she termed a “frivolous” lawsuit against Experian in the recent, twinned cases Glenn Williams v. Experian and Lorissa Williams v. Experian.
New mandatory credit bureau reporting process changes that had been announced earlier this year will become effective this Wednesday, June 15. The three major credit bureaus issued a memo in March, stating that the purpose is to provide consumers more transparency. The bureaus established the plan in conjunction with several states’ Attorneys General. New requirements […]
FTC Director Jessica Rich’s comments came as part of an announcement by the FTC that it had filed a complaint and proposed order against a Texas-based debt collection agency for having deficient policies and procedures related to borrower credit reporting. Through its proposed order, the FTC clarified its expectations for what credit reporting policies and procedures debt collection agencies need to have in order to avert or withstand regulatory scrutiny.