Debt Collection

News & Analysis as of

No Notice of Mortgage Assignment in Florida? No Problem

Earlier this month, the United States District Court for the Southern District of Florida in Summerlin Asset Mgmt. V Trust v. Jackson decided an issue of first impression regarding whether compliance with Florida Statute...more

7 Reasons You May Win Your Debt Collection Lawsuit that have Nothing to Do With the Law

Often here on my blog I will discuss some of the more technical legal arguments that can help you win your case against junk debt buyers. However, in a surprisingly high number of cases you end up winning simply for showing...more

Are Statute Of Limitation Defenses On Your Radar?

Mortgage servicers and their clients have been working with a population of defaulted loans in the hundreds of thousands for the better part of the last seven years. Now, as regulatory and statutory changes have extended...more

Pennsylvania Federal Court Holds that Envelope with Visible Bar Code That Could Be Scanned To Reveal Consumer’s Account Number May...

Action Item: In light of this decision, debt collectors should avoid the use of account numbers and/or QR codes on envelopes or within the viewing area of clear plastic envelope windows. Revealing such information on...more

11th Circuit: Representations by Attorneys in Debt Collection-Related Court Filings Actionable Under FDCPA

In Miljkovic v Shafritz & Dinkin, 2015 WL 3956570, a panel of the 11th Circuit held that representations made by an attorney in required court filings during the course of debt collection litigation can be actionable under...more

Maryland Appeals Court Declines to Adopt “Meaningful Attorney Involvement” Standard

The Maryland Court of Special Appeals recently declined to adopt the “meaningful attorney involvement” standard for Fair Debt Collection Practices Act (FDCPA) claims based on alleged insufficient attorney involvement in debt...more

CFPB Launches Monthly Complaint Report to Spotlight Consumer Complaint Trends

Last week, the CFPB launched a new series of monthly reports to “highlight key trends from consumer complaints submitted to the Bureau.” The CFPB intends for each monthly report to provide top-level highlights of consumer...more

Recent FCC Ruling on the TCPA Has Important Implications for Health Care Companies

On July 10, 2015, the Federal Communications Commission (“FCC”) issued a Declaratory Ruling and Order (“Declaratory Ruling”) in response to 21 separate requests seeking clarification or other action on the Telephone Consumer...more

CFPB launches monthly complaint report

The CFPB has issued a complaint report which it describes as “the first in a new series of monthly reports to highlight key trends from consumer complaints submitted to the Bureau.” In addition to providing overall data on...more

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

Chase Bank Ordered to Stop Collecting on 528,000 Accounts – Pay $50 Million to Consumers

On July 8, 2015 the Consumer Financial Protection Bureau (CFPB) and 47 states took action against Chase Bank for illegal debt collection activities involving the sale of delinquent accounts to third-party junk debt buyers. ...more

NC Legislative Update for July 2015 #2

This Week - After a week-long summer recess, lawmakers returned to Raleigh to resume the business of the State. The House finally appointed budget Conferees on Tuesday, nearly a month after receiving the Senate version...more

CFPB Releases First Monthly Consumer Complaint Report

The CFPB has released its first in a series of new monthly reports on consumer complaints. The CFPB says that the purpose of these reports is to identify trends with respect to volume, product type, and geographic region....more

Lessons From CFPB’s Latest Debt Collection Settlement

On Wednesday, July 8, the Consumer Financial Protection Bureau announced its latest — and largest — settlement of claims of unfair and deceptive debt collection practices. The Office of the Comptroller of the Currency and 47...more

Director Cordray appears before Senate Banking Committee

On Wednesday, July 15, CFPB Director Richard Cordray appeared before the Senate Committee on Banking, Housing, & Urban Affairs to answer questions regarding the Bureau’s Semi-Annual Report to Congress and the President, which...more

Third Circuit Clarifies FDCPA Restrictions on Third-Party Communications

Action Item: Lenders and servicers should continue to maintain policies and procedures that minimize third-party communications and ensure maintenance of sufficient records documenting the frequency and purpose of those...more

CFPB, 47 State AGs, and District of Columbia Announce $216 Million Settlement to Resolve Credit Card Debt-Buying Investigation

On July 8, the CFPB along with 47 state attorneys general and DC announced an agreement with a major bank to resolve allegations that it sold faulty credit card “zombie debts” to third-party debt buyers, which included...more

“Don’t Call Us, We’ll Call You.” The FCC’s Latest TCPA Ruling Imposes Even More Restrictions on Telemarketing Calls and Texts

On July 10, 2015, the Federal Communications Commission released the Omnibus Declaratory Ruling and Order (the Order) it adopted on June 18. The Order addresses requests for clarification regarding requirements under the...more

CFPB Shifts Focus to Auto Lending Industry

Auto lenders and servicers be advised: the Consumer Financial Protection Bureau (CFPB) turns its lonely eyes to you. On June 17, 2015, the CFPB brought an action in the Southern District of Ohio against Security National...more

Credit Card Issuer Debt Collection Consent Order: The CFPB’s Latest Rulemaking Through Enforcement Effort

On Wednesday, July 8, the CFPB announced its latest — and largest — settlement of claims of unfair and deceptive debt collection practices. The OCC and 47 State Attorneys General all were part of the overall settlement. The...more

FCC Order Creates New TCPA Challenges for Companies

As previously reported, the Federal Communications Commission recently approved a Declaratory Ruling and Order (the Order) addressing a number of petitions that requested the FCC clarify its interpretations of the Telephone...more

Significant Tax Provisions in the 2016-2017 Ohio Budget Bill Affecting Businesses

On June 30, 2015, Ohio Governor John Kasich signed into law the biennial budget bill, Amended Substitute House Bill No. 64 (“HB 64”). The legislation underwent substantial changes during the legislative process such that the...more

JP Morgan Chase to Pay $216 Million Over Credit Card Debt Sales Practices

This week, JP Morgan Chase & Co. agreed to a settlement with the Consumer Financial Protection Bureau (CFPB), the Office of Comptroller of the Currency, and 47 states to settle probes into its credit card debt collection...more

To Stay Clear of Stay Violations, Action May be Required

The automatic stay, imposed (automatically, of course) by the filing of a voluntary bankruptcy petition, is the most fundamental of protections offered by the Bankruptcy Code. The stay, governed by 11 U.S.C. § 362, is...more

Ninth Circuit Finds Local Controversy Exception to CAFA

The Ninth Circuit reversed the dismissal of a class action and instructed the district court to remand the case to state court, based on the local controversy exception to the Class Action Fairness Act (CAFA). In doing so, it...more

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