Our blog post series has detailed a number of ways in which the CFPB’s final debt collection rule departs from last year’s NPRM. There are two additional topics approached very differently in the final rule: (1) the proposed...more
On September 29, the CFPB, in partnership with the FTC and numerous federal and state law enforcement agencies, announced a nationwide effort addressing “phantom debt collection” and abusive and threatening debt collection...more
On September 29, the CFPB, in partnership with the FTC and numerous federal and state law enforcement agencies, announced a nationwide effort addressing “phantom debt collection” and abusive and threatening debt collection...more
Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more
9/4/2019
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
Misrepresentation ,
Restitution ,
UDAAP ,
Unfair or Deceptive Trade Practices
A debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) when it filed a summary judgment motion in a collection action after the debtor had sought enforcement of a credit card agreement’s arbitration...more