Consumer Finance Monitor Podcast Episode: Recent Federal and State Debt Collection Developments
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
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
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
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
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
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
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
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
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
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
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