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Disclosure Requirements Debt Collectors

Hudson Cook, LLP

[Webinar] Preparing for the New CFPB Enforcement Order Registry - June 27th, 2:00 pm ET

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Nonbank financial services companies with prior enforcement orders are preparing for the Consumer Financial Protection Bureau’s (CFPB) new Registry, which takes effect September 16. Nonbank consumer lenders, loan servicers,...more

Ballard Spahr LLP

NYDFS proposes amendments to debt collection regulation

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On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The proposed amendments would...more

Goodwin

CFPB Releases New Compliance Aid

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In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more

Manatt, Phelps & Phillips, LLP

[Webinar] Navigating the Challenges of Medical Debt Recovery - October 19th, 3:00 pm - 4:00 pm ET

With Medical Debt Hitting $140 Billion, Hospitals Are Taking Action. How Can You Maximize Collections While Minimizing Risks? Find Out at a New Manatt Webinar... New research published in the Journal of the American...more

Goodwin

CFPB Decides Not To Delay Debt Collection Rules

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On July 30, 2021, the Consumer Financial Protection Bureau (CFPB) announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as originally planned, on November 30, 2021,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Confirms November 30 Effective Date for Debt Collection Final Rules

The CFPB recently announced that its two final debt collection rules implementing the Fair Debt Collection Practices Act (FDCPA) will take effect as planned on November 30. The CFPB had previously proposed extending the final...more

Burr & Forman

Second Circuit Holds Debt Collector Did Not Need to Include Interest Disclosure in Settlement Offer

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In its 2016 decision in Avila v. Riexinger & Associates, LLC, the Second Circuit Court of Appeals held that an attempt to collect a debt that states the current balance owed but does not disclose whether interest and fees are...more

Burr & Forman

Rehearing Sought in Federal Appeals Court Ruling on Use of Mailing Vendors by Debt Collectors

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The ruling by the Eleventh Circuit Court of Appeals in Richard Hunstein v. Preferred Collection and Management Services, Inc. raises significant concerns for debt collectors who use vendors for mailing and other types of...more

Cozen O'Connor

Consumer Financial Protection Bureau Enters Eviction Fray With New Ruling Under FDCPA

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On April 19, 2021, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule intended to help residential tenants facing eviction for nonpayment of rent.1 2 This rule was issued under the CFPB’s authority...more

Hudson Cook, LLP

CFPB Bites of the Month - November Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...more

Troutman Pepper

FDCPA Claims Based on Collection of Time-Barred Debt Claims Result in Class Settlement

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Two collection agencies agreed to new disclosure requirements when attempting to collect on time-barred debts, in a settlement agreement preliminarily approved by a United States district court judge in Texas last month. The...more

Ballard Spahr LLP

CFPB Extends Comment Period For Supplemental Debt Collection Proposal; States Take Emergency SOL Actions

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Comment period extension. Yesterday, the CFPB announced a second 60-day extension of the comment period for its supplemental proposal that would require debt collectors to make specified disclosures when collecting...more

Hudson Cook, LLP

CFPB Proposes Time-Barred Debt Disclosures

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As a supplement to its notice of proposed rulemaking on debt collection, on February 21, 2020, the Consumer Financial Protection Bureau issued additional proposed rules addressing attempts to collect debts for which the...more

Clark Hill PLC

The Impact of the CFPB's Supplemental Proposed Rulemaking for Time-Barred Debt Disclosures is Greater than what Appears

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Last Friday, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supplemental Notice of Proposed Rulemaking (SNPR) for time-barred debt disclosures. ...more

Ballard Spahr LLP

CFPB issues proposed rule to require debt collectors to make disclosures for time-barred debts

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The CFPB has issued a proposal that would require debt collectors to make specified disclosures when collecting time-barred debts (Disclosure Proposal).  The Disclosure Proposal supplements the Bureau’s proposed debt...more

Hinshaw & Culbertson LLP

Consumer Law Hinsights - December 2019

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Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies, brought to you by Hinshaw & Culbertson LLP....more

Brownstein Hyatt Farber Schreck

Brownstein Attorneys Advise on Updates to 40-Year-Old FDCPA

On Tuesday evening, Sept. 17, ACA International filed a 155-page comment to the Consumer Financial Protection Bureau’s (“Bureau”) proposed debt collection rule. The comment advocates for consumers, creditors and a stable U.S....more

Ballard Spahr LLP

Third Circuit: Debt Collector’s “True Name” FDCPA Violation Did Not Violate Other FDCPA Provisions

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The U.S. Court of Appeals for the Third Circuit has ruled that although the plaintiffs had plausibly alleged facts stating a claim that a debt collector had violated the Fair Debt Collection Practices Act (FDCPA) by not using...more

Smith Debnam Narron Drake Saintsing & Myers,...

District Court Holds that the Verbiage, “Settlement Offers May Have Tax Consequences”, in a Debt Collector’s Form Collection...

The Western District Court in New York has held that a debt collector did not violate § 1692e(10) of the FDCPA. The Court held that a form collection letter with offers of settlement did not “use… false representation or...more

Smith Debnam Narron Drake Saintsing & Myers,...

District Court Provides Successful Road Map for Bona Fide Error Defense

The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 15 U.S.C. § 1692d(6). The FDCPA also includes a “bona fide...more

Ballard Spahr LLP

Recent Massachusetts AG consent order places new requirements on debt collection law firm

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In a recent consent order with a legal collection law firm, the Massachusetts Attorney General imposed significant restrictions on legal collection that go beyond previous CFPB consent orders, which we covered here. We...more

Smith Debnam Narron Drake Saintsing & Myers,...

No interest? No Disclosure? No Problem!

The juxtaposition of Sections 1692e and 1692g continues to be a battle ground for the consumer bar and collection industry. Section 1692e prohibits false, deceptive or misleading representations in connection with the...more

Ballard Spahr LLP

West Virginia enacts significant amendments to debt collection law

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Significant changes to West Virginia’s debt collection law will take effect on July 4, 2017.  Senate Bill 536, approved by the state’s governor on April 21, 2017, includes the following amendments...more

Stinson LLP

CFPB Presents Significant New Regulatory Requirements for Third-Party Debt Collectors

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On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for regulating debt collection practices. The outline’s release triggers the formation of...more

Ballard Spahr LLP

Voicemail Message Without Express Statement It Was From Debt Collector Did Not Violate FDCPA, Ninth Circuit Rules

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A debt collection law firm did not violate the Fair Debt Collection Practices Act (FDCPA) by leaving a voicemail message for the plaintiff that identified the law firm but did not expressly state that the law firm was a debt...more

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