InfoBytes, October 28, 2011 - A Weekly In-depth review of news & developments in the financial services industry


Topics In This Issue:

• Federal Issues

• State Issues

• Courts

• Miscellany

• Firm News

• Firm Publications

• Mortgages

• Banking

• Litigation

• E-Financial Services

• Privacy/Data Security

Excerpt from Miscellany:

Court Grants FTC Request for TRO Against Debt Collection Operation. On October 26, the Federal Trade Commission (FTC) announced that the U.S. District Court for the Central District of California granted its request for a temporary restraining order against a debt collection operation that allegedly deceived and abused consumers. The FTC filed the complaint and request for a TRO on October 11, 2011 against two individuals and seven companies in a Corona, California-based debt-collection operation doing business as Rincon Debt Management. The FTC charged that the defendants made false and misleading claims that they were process servers or attorneys who had filed - or were about to file - a lawsuit against a consumer, and that these claims violated the FTC Act. Additionally, the FTC alleged that the defendants violated the Fair Debt Collection Practices Act by: (i) improperly contacting third parties about consumers' debts; (ii) failing to disclose the name of the company they represented, or the fact that they were attempting to collect on a debt, during telephone calls to consumers; (iii) misrepresenting the existence of a debt, the amount, and other facts about the debt; and (iv) failing to notify consumers of their right to dispute and obtain verification of their debts. In response, the court granted an order to stop the illegal conduct, freeze the operation's assets and appoint a temporary receiver to take over the defendants' business while the FTC moves forward with the case.

Please see full infobyte below for more information and links.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »


BuckleySandler attorneys are among the leading financial services law practitioners in the country... View Profile »

Follow BuckleySandler LLP :

Reporters on Deadline

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.