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FDCPA Requires Debt Collectors to Make Specific Disclosures in the Initial...
The Fair Debt Collection Practices Act (“FDCPA”) requires a debt collector to make certain disclosures of a consumer’s rights within five days after the initial communication with a consumer in...
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Senator Warren Calls for Reduction in Student Loan Interest Rates
One of the largest sources of debt and debt collection activity is student loans. Senator Elizabeth Warren, D-Mass., has called on Congress to stop student loan interest rates from doubling this...
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New Bill Would Amend FDCPA Regarding Medical Debts
U.S. Rep. Gary Miller (CA-31) has introduced legislation to give consumers more time to ensure that only accurate medical debt is reported to credit bureaus. H.R. 2211, the Accuracy in Reporting...
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U.S. Consumer Financial Protection Bureau Sues Florida Debt Company For...
The U.S. Consumer Financial Protection Bureau (CFPB) filed a complaint in the United States District Court for the Southern District of Florida against a Florida debt-relief company that misled...
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Congressional Findings Underscore Importance of Fair Debt Collection...
In enacting the Fair Debt Collection Practices Act (“FDCPA”), Congress underscored the importance of regulating debt and bill collectors. Specifically, the FDCPA explains in 15 U.S.C. 1692: (a) There...
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Senator Brown (D-OH) Calls for Revisions to FDCPA to Further Protect...
In advance of the Consumer Financial Protection Bureau’s (CFPB) debt collection roundtable with the Federal Trade Commission (FTC), U.S. Sen. Sherrod Brown (D-OH) called on CFPB Director Cordray to...
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FDCPA Limits How and When Debt Collectors Can Contact Consumers
The Fair Debt Collection Practices Act (“FDCPA”), 15 U.S.C. 1692c, sets forth how and when debt collectors are allowed to communicate with consumers: (a) COMMUNICATION WITH THE CONSUMER GENERALLY....
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Debt Collection Agency Executive Pleads Guilty to Bank Bribery Charge
Deirdre M. Daly, Acting United States Attorney for the District of Connecticut, announced that Patrick Pinto, 44, of Bohemia, New York, waived his right to indictment and pleaded guilty today before...
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Most Common Complaint About Debt Collectors: Demanding More Than a Consumer Owes
It is a violation of the Fair Debt Collection Practices Act (“FDCPA”) for a debt collector to misstate the amount of a consumer’s alleged debt. First, the FDCPA prohibits debt collectors from...
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Second Most Common Complaint About Debt Collectors: Harassing Consumers
Under the Fair Debt Collection Practices Act (“FDCPA”), it is illegal for debt or bill collectors to harass consumers to try to collect on a debt. According to the Consumer Financial Protection...
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Third Most Common Complaint About Debt Collectors: Threatening Dire...
The Fair Debt Collection Practices Act (“FDCPA”) bars debt and bill collectors from making threats as to what might happen if the consumer fails to pay the debt, unless the collector has the legal...
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Equifax: Overall U.S. Consumer Debt Nearly $11 Trillion
According to new National Consumer Credit Trends Report data from Equifax (NYSE:EFX), consumers saw their total debt decrease in most major U.S. metropolitan areas in the first quarter of 2013, though...
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Debt Collector Encore Capital Gets Even Larger
Encore Capital Group, Inc. (NASDAQ: ECPG), a leading U.S. debt management and recovery company, announced that it has closed its acquisition of 50.1% of the equity interest in Janus Holdings Luxembourg...
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Debt Collection Employee and Son-In-Law Convicted of Sophisticated Identity...
According to George L. Beck, Jr., U.S. Attorney for the Middle District of Alabama, Quentin Collick and Deatrice Williams were each found guilty this week of one count of conspiring to defraud the...
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Largest Debt Collector Agrees to $3.2 Million Fine for FDCPA Violations
The Federal Trade Commission announced that the world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal...
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Consumer Financial Protection Bureau Issues FDCPA Guidance
The Consumer Financial Protection Bureau (CFPB) has put companies on notice through bulletins advising that all companies under Bureau jurisdiction will be held accountable for unlawful conduct in...
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FTC Testifies Before U.S. Senate on FDCPA Violations
The Federal Trade Commission told a U.S. Senate subcommittee that it continues to crack down on unlawful debt collection practices through an active program of vigorous law enforcement, education...
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BBB Issues Warning About Debt Collector LRS Litigation Services
The Better Business Bureau Serving Greater Cleveland, Ohio, is warning consumers about LRS Litigation Services (LRS), a purported debt collection agency. According to a press release issued by the...
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At FTC’s Request, Court Orders Halt to Debt Collector’s Illegal Practices,...
According to the Federal Trade Commission, at its request a U.S. district court has halted a debt collection operation that allegedly extorted payments from consumers by using false threats of...
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Federal Law Requires Monthly Debits From Your Checking Account to Be...
In many cases, a debt collector will insist that a consumer pay down their debt through a series of recurring deductions from the consumer’s checking account. Importantly, the Electronic Fund Transfer...
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