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Bank of America Agrees to Pay $32 Million for Harassing Debt Collection Calls...
According to media reports, Bank of America will pay $32 million to resolve claims that it made harassing debt collection calls to customers’ cell phones in violation of the Telephone Consumer...
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CFPB Provides Guidance on Mortgage Servicing Rules Under FDCPA
The Consumer Financial Protection Bureau (CFPB) is releasing a bulletin and interim final rule to provide greater clarity to the market concerning mortgage servicing rules that take effect in January...
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At FTC’s Request, Court Halts Collection of Allegedly Fake Payday Debts
According to a press release issued by the Federal Trade Commission, a U.S. district court has halted an operation based in Atlanta and Cleveland that allegedly used deceptive and threatening tactics...
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Debt Collection Agency Posing as Law Enforcement Experts, Better Business...
According to a press release issued by the Better Business Bureau of Chicago and Northern Illinois, con artists are now posing as police officers, members of the Sheriff’s Office and even FBI officers....
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Debt Collector Portfolio Recovery Associates, Inc. Reports Record Profits
Virginia-based debt collector Portfolio Recovery Associates, Inc., one of the largest debt buyers in the United States, reported record profits for the third quarter 2013. According to a press release...
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Minnesota AG Sues Florida Debt Collector for Using Fraudulent Affidavits
According to a press release issued by Minnesota Attorney General Lori Swanson, the state filed a lawsuit against a Florida company that purchased millions of charged-off customer accounts from large...
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What is the mini-Miranda used by debt collectors?
The mini-Miranda: This communication is from a debt collector. This is an attempt to collect a debt, and any information obtained will be used for that purpose. The mini-Miranda is the statement debt...
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New Bill Would Outlaw Lawsuits Over Time-Barred Debts
According to a press release, Congressman Steve Cohen (TN-09) has introduced legislation, the Fair Debt Collection Improvement Act, to protect Americans from the predatory and abusive tactics of debt...
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CFPB Director Cordray’s Remarks at the Debt Collection Advance Notice of...
Below are the remarks given by Consumer Financial Protection Bureau Director Richard Cordray at the Debt Collection Advance Notice of Proposed Rulemaking Press Call: Today, the Consumer Financial...
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CFPB Considers New Rules to Govern Debt Collectors
From a press release issued today by the Consumer Financial Protection Bureau (CFPB): The Consumer Financial Protection Bureau (CFPB) today took the first step toward considering consumer protection...
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