I have been asked to be a receiver to help collect a judgment. The judgment debtor has intellectual property assets. Plaintiff’s counsel has asked me how hard it will be to get me appointed and if I would be able to sell the...more
On April 8, the Massachusetts Division of Banks sent a letter to state-licensed debt collectors advising them that it is illegal to collect on consumer loans that violate the Massachusetts small loan statute. ...more
A prevailing defendant in a Fair Debt Collection Practices Act (FDCPA) case can recover costs even without a court finding that the plaintiff filed suit in bad faith and for the purpose of harassment, the U.S. Supreme Court...more
In Marx v. General Revenue Corp., decided on February 26, 2013, the United States Supreme Court, by a margin of 7-2, held that a debt collector sued by a borrower under the Fair Debt Collection Practices Act ("FDCPA") may...more
On February 1, the FTC sent a letter to the CFPB describing the FTC’s debt collection-related activities over the past year. The responsibility to report to Congress each year on implementation and enforcement of the FDCPA...more
The Attorney General brought a lawsuit against an income tax preparation business alleging violations of state and federal lending, consumer protection, unfair competition, and false advertising laws. The court of appeal...more
In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more
The Federal Trade Commission’s continuing focus on the debt collection and debt relief industries was clearly demonstrated by several recently announced lawsuits and settlements....more
Overview - The U.S. Court of Appeals for the Sixth Circuit recently held that mortgage foreclosure actions are "debt collection" under the Fair Debt Collection Practices Act (FDCPA). Glazer v. Chase Home Finance LLC, No....more
On January 17, the City of Chicago passed ordinances related to debt collection, small dollar lending, and license enforcement. With the adoption of an ordinance requiring that debt collectors collecting debts from Chicagoans...more
In This Issues: - CFPB Generates Flurry of New Mortgage Banking Industry Rules - CFPB Issues Final ECOA Appraisal Rule - 20 State Agencies Adopt Uniform State MLO Testing - Mortgage Foreclosure Is Debt...more
On January 9, the U.S. District Court for the Central District of California held that an indirect auto finance company that took assignment of a retail installment sales contract from an automobile dealer is not a debt...more
Lawyers whose principal business is mortgage foreclosure or who regularly handle mortgage foreclosures are “debt collectors” subject to the Fair Debt Collection Practices Act, the U.S. Court of Appeals for the Sixth Circuit...more
The U.S. Court of Appeals for the Ninth Circuit has amended a recent decision in which it suggested that prior express consent under the Telephone Consumer Protection Act (TCPA) for telephone calls made to mobile phones for...more
In This Issue: - Ohio Enacts the Nation's First Transitional MLO Licensing Law for Out-of-State MLOs - Noted Data Security and Privacy Attorney Amy Mushahwar Joins Ballard Spahr - Information Security...more
A recent Department of Justice settlement with a debt collection law firm that was accused of violating the Americans with Disabilities Act exemplifies the mounting federal scrutiny of the debt collection industry....more
If someone with too much time on their hands tried to catalogue all of the decisions regarding conditional certification of proposed FLSA class actions, they would likely find that while plaintiffs prevail at this stage more...more
In Meyer v. Portfolio Recovery Associates (Oct. 12, 2012), the Ninth Circuit affirmed the Southern District of California’s decision to provisionally certify a class and grant a preliminary injunction against Portfolio...more
In This Issue: - Banks Concerned as TAG Program Set to Expire - European Banks Set to Take Bigger Hit than U.S. Over Libor Probe - N.Y. AG Sues Credit Suisse for Misleading Investors on Mortgages -...more
On October 24, the CFPB issued a final rule that will allow the Bureau to supervise certain debt collectors. Under this rule, debt collectors will be required to provide certain disclosures, provide accurate information,...more
The Consumer Financial Protection Bureau has issued its long-awaited final rule defining larger participants of a market for consumer debt collection. The rule is effective January 2, 2013. To enable its examiners to...more
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