News & Analysis as of

Debt Collection Penalties

Shipkevich PLLC

CFPB Proposes Order in Massive Action Against Debt Collection Company

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On March 23, 2023, the Consumer Financial Protection Bureau (CFPB) has taken action against one of the largest debt collectors in the United States, Portfolio Recovery Associates (PRA), for various violations of law,...more

Awatif Mohammad Shoqi Advocates & Legal...

Latest Amendments on Cheque Bounce in the UAE

The law related to cheque bounce has undergone a change in recent times in the UAE. The law on cheque bounce in the UAE is codified in the Federal Law No 18 of 1993 concerning commercial transactions law (Commercial...more

Spilman Thomas & Battle, PLLC

What Bank Litigators Want Banks to Know About the State of Consumer Protection Litigation in W.Va.

For decades, consumer protection has led to copious amounts of litigation in West Virginia. In the past several years, the types of lawsuits filed under the debt collection provisions of the West Virginia Consumer Credit and...more

Foley & Lardner LLP

CFPB Settlements: It’s Not Over Until It’s Over

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On April 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) broke new ground by imposing a fine – in excess of a million dollars – against a consumer financial services company for allegedly violating the terms of...more

Ballard Spahr LLP

Court orders former president of debt collection company to pay $2 million penalty to FTC for alleged FDCPA/FTC Act violations

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A Texas federal district court has entered a $2 million civil penalty judgment against the former president of a debt collection company for alleged violations of the FDCPA and FTC Act. ...more

Goodwin

Financial Services Weekly News - September 2016 #3

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Editor's Note - Investment Company Institute Publishes FAQ on SEC No-Action Letter Regarding Auditor Independence. On September 23, the Investment Company Institute (ICI) published a memorandum (ICI Memo) responding to...more

Manatt, Phelps & Phillips, LLP

NY's DFS Reaches $3M Deal Involving Payday Lending Debts

Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million....more

Goodwin

NY DFS Obtains $3 Million in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a debt buyer for purchasing and collecting on allegedly illegal payday loans made to New York consumers, in violation of the...more

Goodwin

NY DFS Obtains $119K in Restitution for Illegal Payday Lending

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On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a Virginia debt buyer for collecting on illegal payday loans from New York consumers, in violation of the Fair Debt...more

Goodwin

The CFPB Targets Lender’s Credit Card Division With More Than $200MM In Penalties

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The Consumer Financial Protection Bureau (CFPB) has set its sights on debt collection practices again. In April, we wrote about the CFPB’s $63 million settlement with a mortgage servicer, Green Tree Mortgage, in part for...more

Epstein Becker & Green

The Fair Debt Collection Practices Act—Hope on the Horizon for Debt Collectors?

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Debt collection is big business—easily a multibillion-dollar industry. In 2012, approximately 30 million individuals, or 14 percent of American adults, had debt (averaging about $1,500) that was or had been subject to the...more

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