The U.S. Court of Appeals for the Third Circuit held in Tepper v. Amos Fin., LLC, that debt buyers (i.e., entities collecting, on their own behalf, consumer debts they acquired when the debts were in default), can qualify as...more
In a recent decision, a federal court in the Southern District of New York (SDNY) dismissed a putative class action complaint alleging, among other things, that a mortgage servicer violated the Fair Debt Collection Practices...more
7/24/2018
/ Consumer Financial Products ,
Excessive Fees ,
FDCPA ,
Financial Services Industry ,
Inspection Rights ,
Mortgage Servicers ,
Mortgages ,
Motion to Dismiss ,
Notice of Default ,
Putative Class Actions ,
RICO
On November 28, 2017, the Federal Reserve Board announced a Consent Order with Peoples Bank (Peoples) in Lawrence, Kansas. The Order charges Peoples with violating Section 5 of the Federal Trade Commission Act (FTCA) by...more
The 11th Circuit Court of Appeals has affirmed its prior holding in Arencibia v. Mortgage Guaranty Insurance Corp. that an entity that acquires and collects debt on its own behalf does not qualify as a debt collector under...more
Federal courts lack jurisdiction to consider borrowers' claims that arise out of a state court foreclosure proceeding, the U.S. District Court for the District of Maryland recently ruled. Parker v. Investire involved claims...more