Free registration is required to access these resources. Login or Register.

Premium compliance products are also available in the insideARM Store

The Attorney General of Massachusetts has filed a lawsuit against and reached a preliminary agreement with a debt purchaser/collector that was accused of conducting business in the state without a proper license and other violations of debt collection regulations.

Massachusetts Assistant Attorney General Jonathan Engel issued a press release Monday detailing the suit against The Cadle Company, one of its operating units and the company’s owner, Daniel C. Cadle. The suit alleges that Cadle was engaging in debt collection operations in the state without proper license.

The AG’s office said Cadle agreed to cease direct collection operations in Massachusetts while the case progresses. It will hire collection agencies and attorneys licensed in the state to conduct its collections operations on debt it purchases in the interim.

But Dan Cadle told insideARM.com that he feels the case is without merit, and that the AG’s office is mischaracterizing the agreement.

“We aren’t doing anything wrong,” he said. “We are not violating any rules. We ‘agreed’ to do what were already doing: hiring licensed agencies in Massachusetts to work our debt in that state.”

The AG’s office said that Cadle applied for a license in December 2003 but was denied. Another business unit of Cadle, The Cadle Company II, Inc., similarly applied for a license in August 2005 that was also denied in July 2007. The AG alleges that Cadle “engaged in unlicensed debt collections between the December 2003 license denial of TCC and TCC II’s August 2005 application for licensure.”

The AG’s release said that the agreement between it and Cadle does not resolve the lawsuit against the firm.


Related Products

Telephone Communication Compliance: The CFPB's Consent Orders Thumbnail

Telephone Communication Compliance: The CFPB's Consent Orders

Our Telephone Communication Compliance: The CFPB’s Consent Orders guide is designed to help debt collectors comply with consent orders that hint at telephone communication violations. The report includes easy-to-understand explanations of each consent order and a comprehensive chart of all relevant consent orders, keeping the information you need right at your fingertips! This paper has been excerpted from insideARM's larger "The CFPB's Consent Orders Regulating the ARM Industry" report, available for sale now.

Staying Compliant – and Out of Court – with the TCPA Thumbnail

Staying Compliant – and Out of Court – with the TCPA

This reference guide distills the information presented in our webinar. It comes complete with a link to the full recording of the webinar – great for use for all-staff trainings and quarterly in-services -- as well as the slide deck and full transcript of the webinar. This guide doesn’t just walk through what agencies should and should not be doing, going forward -- it contains the full Q&A from the webinar, too. (This product is approved for DBA International Certification Credit.)

The CFPB's Consent Orders Regulating the ARM Industry Thumbnail

The CFPB's Consent Orders Regulating the ARM Industry

Our guide on The CFPB’s Consent Orders Regulating the ARM Industry is the first report of its kind designed to help debt collectors comply with consent orders. The report includes easy-to-understand explanations of each consent order and a comprehensive chart of all relevant consent orders, keeping the information you need right at your fingertips! This report will be updated quarterly.

UPDATED! CFPB’s Advice to the Consumer (through March 2016) Thumbnail

UPDATED! CFPB’s Advice to the Consumer (through March 2016)

The Consumer Financial Protection Bureau hosts more than 80 of the most common consumer questions about debt collection on its Ask CFPB website. And since the Bureau was created for the sole purpose of representing and protecting consumers, debt collectors need to know how the CFPB communicates with them. That’s why insideARM compiled the answers to all 88 questions in one user-friendly report. Using the CFPB’s guidance as a model for your own compliance priorities, policies and procedures means your company will be able to keep up with the Bureau before it feels the need to examine your agency. ALL ANSWERS UPDATED THROUGH MARCH 2016.

Advertisement