Fair Debt Collection Practices Act Federal Trade Commission

News & Analysis as of

FTC Highlights FDCPA Risks for Debt Collectors Using Social Media, Texts

The Federal Trade Commission (FTC) recently published a reminder to debt collectors of the Fair Debt Collection Practices Act (FDCPA) compliance risks that are created by the use of social media or text messages in connection...more

Top 10 Financial Institution Considerations for 2016: #5 – Marketplace Lending

In our initial article announcing our top 10 considerations for financial institutions in 2016, our fifth consideration was marketplace lending. Just as the U.S. government and banking agencies have focused efforts to...more

CFPB issues 2016 FDCPA report

The CFPB has issued its fifth annual Fair Debt Collection Practices Act report covering the CFPB’s activities in 2015. In the background section of the report, the CFPB provides various statistics about the debt collection...more

FTC's Annual FDCPA Enforcement Letter to CFPB Filled with Insight into 2016 Focus

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (CFPB) is required to submit annual reports to Congress on the Fair Debt Collection Practices Act (FDCPA). Since...more

Federal Trade Commission Issues Report to the Consumer Financial Protection Bureau of its Enforcement of the Fair Debt Collection...

On February 12, 2016, the Federal Trade Commission (FTC) issued a report to the Consumer Financial Protection Bureau regarding its efforts to implement the Fair Debt Collection Practices Act. The full report can be...more

FTC Reports to CFPB on 2015 Activities to Combat Illegal Debt Collection Practices

On February 17, the FTC sent the CFPB a letter summarizing its 2015 efforts to stop allegedly illegal debt collection practices. According to the letter, in 2015, the FTC’s FDCPA activities included “aggressive law...more

FTC sends letter to CFPB on 2015 debt collection activities

The FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2015. The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...more

Will Assignee Liability Increase as FTC Seeks Comments on the Holder Rule?

The “Adam’s Rib” of assignee liability ? the “Holder Rule” issued by the Federal Trade Commission (“FTC”) in 1976 ? is up for review. Imposing liability on innocent purchasers of consumer credit loans for the legal violations...more

Dodd-Frank News: January 2016: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Operation Collection Protection Targets Abusive and Deceptive Debt Collectors

Late last year, the Federal Trade Commission (FTC) revealed an ongoing nationwide enforcement initiative targeting debt collectors, called Operation Protection Collection. The initiative is the first of its kind coordinated...more

FTC Announces ''Operation Collection Protection'' Developments

The Federal Trade Commission (FTC) has announced new developments in ''Operation Collection Protection,'' its new coordinated federal-state enforcement initiative targeting unlawful debt collection practices. The U.S....more

FTC Announces New Enforcement Actions Under the Operation Collection Protection Initiative

On January 7, the FTC announced four separate actions under its Operation Collection Protection initiative against collectors allegedly engaging in abusive and deceptive debt collection practices. It also announced that other...more

CFPB files amicus brief in Seventh Circuit FDCPA case

The CFPB, together with the FTC, has filed an amicus brief in Franklin v. Parking Revenue Recovery Services, Inc., an FDCPA case pending in the Seventh Circuit. The CFPB joined the brief at the request of the FTC, which had...more

Debt Collectors Beware: FTC Takes Broad Reading of Activities Subject to FDCPA and Section 5

This week, the Federal Trade Commission (FTC) warned companies that they may not realize they are subject to the Fair Debt Collection Practices Act (FDCPA). Christopher Koegel, Assistant Director of the FTC Division of...more

Envelope’s Display of Internal Tracking Number Does Not Violate FDCPA, New York Federal Court Rules

A federal district court in New York has ruled that a debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by sending a collection letter in an envelope that allegedly revealed an internal tracking...more

FTC Joins With Federal, State and Local Authorities on Nationwide Debt Collection Enforcement Initiative

On November 4, 2015, a group of law enforcement authorities, led by the Federal Trade Commission (FTC or the Commission), announced Operation Collection Protection, a coordinated federal, state and local initiative aimed at...more

CFPB Brings Another Auto Lender Action, This Time for $48M

Why it matters - Continuing its focus on the auto lending industry, the Consumer Financial Protection Bureau (CFPB) ordered Westlake Services LLC and subsidiary Wilshire Consumer Credit LLC to pay roughly $48 million for...more

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Counsel’s Corner: Does the CFPB Really Understand Non-Judicial Foreclosures?

What is the CFPB's stake in this issue? - The FDCPA is a very powerful statute. It touches a lot of areas of consumer protection. The CFPB is really just exploring it and flexing its muscles in that area. It's working on...more

Rising Conflict Among Federal Courts – Whether an Account Number Visible on a Debt Collection Envelope Violates the FDCPA

Section 1692f(8) of the Fair Debt Collection Practices Act (“FDCPA”) prohibits the use of any language or symbol, other than the debt collector’s address, on any envelope when communicating with a consumer by mail. The...more

CFPB files amicus brief in FDCPA case applying “meaningful attorney involvement” standard to debt collection litigation

The CFPB, jointly with the FTC, has filed an amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP, the case in which the district court ruled that a debt collection law firm...more

Limited Liability Company Can Sue as “Person” Under FDCPA, Sixth Circuit Rules

A limited liability company is a “person” that can file a lawsuit under the Fair Debt Collection Practices Act (FDCPA), the U.S. Court of Appeals for the Sixth Circuit has ruled. In Anarion Investments LLC v. Carrington...more

National Mortgage Servicer Pays CFPB and FTC $63 Million to Settle Claims Over Alleged Servicing Violations

On April 21, 2015, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) announced a joint enforcement action and joint order with a national mortgage servicer. ...more

Update on Chapter 93A

Chapter 93A is the dominant law in Massachusetts governing business litigation. It applies to nearly all business disputes. The winning plaintiff under Chapter 93A is entitled to an automatic award of its attorney's fees, and...more

NY Attorney General, FTC Bring Joint Enforcement Actions against Debt Collectors

The New York Attorney General and Federal Trade Commission recently announced they had filed two joint federal court lawsuits against debt collectors in the Western District of New York. The Attorney General and FTC are...more

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