News & Analysis as of

Debt Collectors Settlement Agreements

Goodwin

CFPB and NY AG Reach $4 Million Settlement with Debt Collectors

Goodwin on

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) announced that they have settled a case filed against six New York debt collection companies and affiliated...more

Jaburg Wilk

Using Credit Reporting as Debt Collection Strategy Has Changed

Jaburg Wilk on

Credit scores are important and frequently determine interest rates and can even impact insurance rates. For many years, judgment creditors could enforce their judgments in a variety of ways. Prior to 2017, judgment creditors...more

Foley & Lardner LLP

Divided Eleventh Circuit Panel Bars Incentive Awards for Class Representatives in Class Action Settlements

Foley & Lardner LLP on

While not authorized by Rule 23, incentive awards to class representatives are a common feature of class action settlements. Nevertheless, a divided Eleventh Circuit panel ruled last Thursday that such payments are strictly...more

Ballard Spahr LLP

CFPB announces proposed consent order with companies alleged to have collected loans void under state law

Ballard Spahr LLP on

The CFPB announced that it has entered into a proposed consent order with Think Finance and six subsidiaries (collectively, the “Think Entities’) to settle the Bureau’s lawsuit filed in November 2017 that alleged the Think...more

Manatt, Phelps & Phillips, LLP

CFPB News: Enforcement Actions, Card Report and Tax Study

The Consumer Financial Protection Bureau (CFPB) reached a pair of settlement agreements, the first with a debt collector and the second in its first enforcement action based on alleged violations of the Remittance Transfer...more

Ballard Spahr LLP

CFPB Touts Settlement with Debt Collection Group as Focus on Debt Collection Continues

Ballard Spahr LLP on

The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB...more

Ballard Spahr LLP

Parties seek preliminary approval of class action settlement in Madden case

Ballard Spahr LLP on

The parties in Madden v. Midland Funding, LLC. have filed a joint motion with the New York federal district court seeking preliminary approval of a class settlement....more

Goodwin

Virginia AG Reaches $243,000 Settlement with Online Payday Lenders and Servicers

Goodwin on

On February 23, 2018, the Office of the Attorney General of Virginia (“Virginia AG”) announced that it had entered into a settlement agreement with several affiliated online payday lenders and debt collection companies (the...more

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