News & Analysis as of

Debt Buyers Federal Trade Commission (FTC)

Maynard Nexsen

Vivint To Pay $20 Million FTC FCRA

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Vivint Smart Homes Inc., a smart home security and monitoring company with a financing program, must pay $20 million as a part of a settlement related to Federal Trade Commission’s (FTC) allegations that the company violated...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - April 2021 #3

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Ballard Spahr LLP

FTC announces settlements with student debt relief company and company that financed fees

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The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student...more

Cozen O'Connor

The State AG Report Weekly Update December 2018 #1

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Breaking News- Alaska Governor Appoints Kevin Clarkson as Attorney General- Recently elected Alaska Governor Mike Dunleavey, a Republican, appointed Kevin Clarkson as Attorney General, replacing AG Jahna Lindemuth....more

Ballard Spahr LLP

FTC and NY AG file lawsuit to stop phantom debt scheme

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On June 26, 2018, the Federal Trade Commission and New York Attorney General’s Office filed a lawsuit against a debt broker, debt collector and their principals to shut down a phantom debt collection scheme.  ...more

Ballard Spahr LLP

CFPB’s national debt collection consumer survey findings lays groundwork for future enforcement and rulemaking priorities

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Early yesterday, the CFPB released the findings of its national debt collection consumer survey. Both the headline of the CFPB’s press release and Director Cordray’s remarks highlight the survey’s finding that “over...more

Ballard Spahr LLP

FTC sends letter to CFPB on 2015 debt collection activities

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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

Williams Mullen

Protecting Consumer Data in Sale of Debt Portfolio

Williams Mullen on

On February 5, 2015, the Federal Trade Commission sent a letter to the Consumer Financial Protection Bureau (“CFPB”) describing its consumer protection efforts in 2014 in the area of debt collection. As reflected in the...more

Ballard Spahr LLP

FTC Continues Regulatory Scrutiny of the Debt Buying Industry

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The Federal Trade Commission (FTC) recently obtained temporary injunctions against two passive debt buyers, which are companies that buy and sell debt portfolios and exclusively use third-party debt collectors. In complaints...more

King & Spalding

FTC Settles With Debt Broker That Posted Consumer Financial Information

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The Federal Trade Commission (“FTC”) has settled a complaint against consumer debt broker Bayview Solutions, LLC, as well as its principal, Aron Tomko, based on allegations that they had publicly disclosed the personal...more

Ballard Spahr LLP

FTC Issues Debt Buying Industry Study

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The Federal Trade Commission has issued a report, The Structure and Practices of the Debt Buying Industry, which the FTC has described as “the first of its kind” empirical study of debt buyers. ...more

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