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Debt Collectors Fair Debt Collection Practices Act Financial Institutions

Ballard Spahr LLP

CFPB: Most debt collection complaints in 2023 were attempts to collect debts not owed

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The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more

Troutman Pepper

Oklahoma Federal Court Dismisses FDCPA Case Where the Debt was not Disputed

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A U.S. District Court in the Western District of Oklahoma recently dismissed a lawsuit under the Fair Debt Collections Practices Act (FDCPA) for lack of Article III standing, finding the plaintiff did not actually dispute the...more

Ballard Spahr LLP

Federal Judge Sanctions Pittsburgh Law Firm for Writing ‘Imaginary’ Letters on Behalf of Clients in Debt Disputes

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A Pennsylvania federal judge has imposed sanctions and lambasted a law firm and its attorneys for having employees write falsified letters on behalf of clients involved in debt collection disputes....more

Troutman Pepper

Indiana Appeals Court Rules That a Passive Debt Buyer Is a Debt Collector under the FDCPA and State Law

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The Court of Appeals of Indiana recently upheld a lower court’s decision that a debt buyer who purchased a portfolio of defaulted student loans and placed an account with a collection agency qualifies as a “debt collector”...more

Troutman Pepper

General Counsel of the CFPB Delivers Remarks Focusing on Medical Collections and Tenant Screening

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In a recent speech at the National Consumer Law Center/National Association of Consumer Advocates Spring Training, Seth Frotman, General Counsel of the Consumer Financial Protection Bureau (CFPB or Bureau), focused on medical...more

Troutman Pepper

California Federal Court Rules Undated Model Debt Violation Notice Does Not Violate the FDCPA

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In March, a district court in the Eastern District of California followed other courts holding that an undated, model form debt validation notice does not violate the Fair Debt Collection Practices Act (FDCPA). Specifically,...more

Troutman Pepper

California Proposes Amending State FDCPA to Cover Small Business Debt

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The California Senate Banking and Financial Institutions Committee is currently considering Senate Bill (SB) 1286, which would expand the scope of the Rosenthal Fair Debt Collection Practices Act (RFDCPA) to also prohibit...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB files amicus briefs in FDCPA case and also files amicus brief in FCRA case jointly with FTC

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The CFPB recently filed two amicus briefs, one in a First Circuit case involving the Fair Debt Collection Practices Act (FDCPA) and the other, which was filed jointly with the Federal Trade Commission, in a Fourth Circuit...more

Troutman Pepper

CFPB Shuts Down Medical Debt Collector for Attempting to Collect Unverified Debt

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On December 15, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with medical debt collector Commonwealth Financial Systems, Inc. (Commonwealth) in its lawsuit over alleged illegal debt...more

Troutman Pepper

Medical Debt Under the Microscope: Insights from the CFPB’s 2022 FDCPA Report

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On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. This...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2023

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Troutman Pepper

Federal Regulators Jointly Release New FDCPA Examination Procedures

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On Dec. 15, 2022, the Federal Financial Institutions Examination Council’s (FFIEC) Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its...more

Blank Rome LLP

Farewell, Hunstein—Eleventh Circuit Holds Disclosing Debtor’s Information to Mail Vendor Does Not Establish Concrete Harm

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Financial institutions, debt collectors, debt collection law firms, and consumer-facing businesses should take note that the Eleventh Circuit Court of Appeals reversed the prior panel’s decision and has ruled that merely...more

Blank Rome LLP

Fifth Circuit Holds Mere Statutory Violation of the FDCPA, Future Risk of Harm, Confusion, and Lost Time Are Insufficient to...

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Financial institutions, debt collectors, debt collection law firms, and consumer-facing businesses should take note that the Fifth Circuit Court of Appeals has ruled that merely asserting a statutory violation of the Fair...more

Perkins Coie

Strict Liability for Debt Collectors Attempting to Collect a Time-Barred Debt Through Litigation

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In 2020, the Consumer Financial Protection Bureau (CFPB) promulgated 12 C.F.R. § 1006.26, amending Regulation F, to implement and interpret the Fair Debt Collection Practices Act (FDCPA). It will become effective on November...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 12, 2021)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Alston & Bird

What Do the CFPB’s and FTC’s 2020 Debt Collection Activity Forecast for 2021?

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Debt collectors can expect the Consumer Financial Protection Bureau and Federal Trade Commission to be active regulators in the Biden Administration, especially during – and in the wake of – the COVID-19 pandemic. Our...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 29, 2021)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Blank Rome LLP

CFPB Proposes Regulations to Clarify, Modernize, and Implement the Fair Debt Collection Practices Act

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Financial institutions and debt collectors should take note of, and provide comments on, the CFPB’s recent Notice of Proposed Rulemaking, which attempts to provide consumers with “clear protections against harassment by debt...more

McGuireWoods LLP

Kraninger Speech Forecasts CFPB FDCPA Rules, Clarification of “Abusive” Acts or Practices

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On Wednesday, Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger delivered her first policy speech since succeeding Mick Mulvaney as head of the CFPB in December. Forecasting the Bureau’s agenda over the...more

Ballard Spahr LLP

CFPB Seeks to Enforce CID against Debt Collection Law Firm

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The CFPB has filed a request in the District Court for the Southern District of New York to enforce a civil investigative demand (“CID”) against the Law Offices of Crystal Moroney, P.C. (“LOCM”), a debt collection law firm...more

Goodwin

Applying Spokeo, 6th Circuit Dismisses FDCPA Suit

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On February 16, 2018, the 6th Circuit, in Hagy v. Demers & Adams (882 F.3d 616 (6th Cir. Feb. 16, 2018)), found that a former borrower did not have standing to assert a claim under the Fair Debt Collection Practices Act...more

Ballard Spahr LLP

House Financial Services subcommittee to hold July 12 hearing on community financial institution relief; bills to be examined...

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On July 12, 2017, a subcommittee of the House Financial Services Committee will hold a hearing entitled “Examining Legislative Proposals to Provide Targeted Regulatory Relief to Community Financial Institutions.” The...more

Bradley Arant Boult Cummings LLP

Alabama Supreme Court Says Cash Advance Company Not a Debt Collector

The Supreme Court of Alabama has reversed a jury verdict awarding the plaintiff $200,000 in damages, ruling on appeal that the Fair Debt Collection Practices Act (FDCPA) did not apply to the pawn transaction at issue....more

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