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Third-Party Service Provider Enforcement Actions Debt Collection

Clark Hill PLC

What Debt Settlement Companies Need to Know When Working With Third Party Payment Processors (Whitepaper)

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Clark Hill’s Financial Services and Regulatory Compliance Group has authored a whitepaper for debt settlement companies considering engaging a third-party payment processor for managing accounts and handling financial...more

Ballard Spahr LLP

NY federal court denies motion to dismiss CFPB lawsuit against debt buyer companies and their owners/officers for unlawful debt...

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A New York federal district court has denied a motion to dismiss the lawsuit filed in January 2022 by the CFPB against three companies that purchase portfolios of defaulted debts (Corporate Defendants) and three individuals...more

Venable LLP

Debt Buyer Sued for Deceptive Practices of Downstream Third-Party Collectors; CFPB Uses Its Substantial Assistance Authority

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On January 10, 2022, the Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against three affiliated debt-buying businesses and the individuals who founded and operated them for "knowingly...more

Ballard Spahr LLP

The CFPB’s latest meaningful attorney involvement lawsuit sends some strange messages

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Last Friday, the CFPB announced that it had filed yet another meaningful attorney involvement lawsuit against a debt collection law firm – Forster & Garbus, P.C.  It’s notable enough that the Bureau continues to pursue these...more

Ballard Spahr LLP

Federal district court sanctions CFPB for deposition conduct; strikes four counts from complaint and dismisses defendants

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A federal district court in Atlanta has granted the defendants’ motions for Rule 37 sanctions against the CFPB for its conduct in connection with the defendants’ depositions of CFPB witnesses. To sanction the CFPB, the court...more

Nexsen Pruet, PLLC

The Consumer Financial Protection Bureau's case against Citibank for violations relating to credit card add-on products

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Today we’re taking a look at the CFPB’s recent enforcement case against Citibank, N.A. (“Citibank”) and two of Citibank’s subsidiaries, Department Stores National Bank (“DSNB”) and Citicorp Credit Services, Inc. (USA) (“CCSI...more

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