News & Analysis as of

Unfair or Deceptive Trade Practices Debt Buyers

Ballard Spahr LLP

FTC announces settlements with student debt relief company and company that financed fees

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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

Ballard Spahr LLP

Debt Collector Enters into Consent Order with CFPB to Settle Alleged FDCPA and UDAAP Violations

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Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more

Ballard Spahr LLP

CFPB enters into consent order with debt buyer and its former CEO and owner

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The CFPB announced last Friday that it had entered into a consent order with National Credit Adjusters, LLC (NCA), a privately-held company that owns several debt collection companies, and NCA’s former CEO and part-owner...more

Ballard Spahr LLP

FTC and NY AG file lawsuit to stop phantom debt scheme

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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

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Henson v. Santander Consumer USA Inc.

On June 12, 2017, the Supreme Court decided Henson v. Santander Consumer USA Inc., No. 16–349, holding that a company may collect debts that it purchased for its own account without triggering the statutory definition of...more

Locke Lord LLP

Henson v. Santander: Resolving Circuit Split, Supreme Court Holds Debt Buyer Not a Debt Collector under FDCPA

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The U.S. Supreme Court in Henson v. Santander Consumer USA, Inc., 2017 WL 2507342, ruled that purchasing and then collecting a defaulted debt does not, standing alone, make an entity a “debt collector” as defined by the Fair...more

Balch & Bingham LLP

SCOTUS’s FDCPA Opinion in Henson v. Santander: It’s Not Debt Collection When You Own It

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Yesterday, the Supreme Court of the United States issued its opinion in Henson v. Santander Consumer USA, Inc.—Justice Gorsuch’s first as a Supreme Court Justice. The question presented was whether “individuals and entities...more

Carlton Fields

CFPB Sanctions Law Firm and Debt Buyer For Failing to Review Account Documentation

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On April 25, the Consumer Financial Protection Bureau (CFPB) entered an enforcement order against New Jersey law firm Pressler and Pressler and its debt-buyer client, New Century Financial Services, for pursuing hundreds of...more

Ballard Spahr LLP

CFPB announces consent orders with debt collection law firm, two law firm partners, debt buyer

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The CFPB announced that it has entered into two consent orders involving debt collection litigation practices. A debt collection law firm and two of its partners are the subject of one consent order and a debt buyer is the...more

Carlton Fields

CFPB Continues to Focus on Reforming Consumer Collection Practices

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The CFPB has authority to enforce violations of the Consumer Financial Protection Act’s prohibition on unfair, deceptive, and/or abusive practices (UDAAP). UDAAP violations have figured prominently in multiple enforcement...more

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