Links in “Fair Debt Collection Practices Act (FDCPA)”

A plaintiff argued the Capital One violated certain provisions of the Fair Debt Collection Practices Act on an account the bank acquired from another bank. The court rule that Capital One is not subject to FDCPA because its collection efforts are related only to debts owed to it (not others) and that debt collection is only part of Capital One's business. [12/16/15]

You don’t need to look any further than the high volume of consumer complaints about collection practices and recent CFPB enforcement actions against debt collectors to recognize that the focus on collection activities has increased. Recently, the FTC as well as federal and state law enforcement agencies have jointly launched Operation Collection Protection to focus on enforcement of the Fair Debt Collection Practices Act and other federal and state laws that govern collection activities. [11/24/15]

The CFPB released its fourth annual report summarizing activities to administer the Fair Debt Collection Practices Act (FDCPA). The 70 page report highlights joint efforts of the CFPB and the FTC during 2014 related to complaints submitted, enforcement actions, rule making, and educational efforts taken and planned. [3/27/15]

The FTC recently submitted its yearly summary of actions on the Fair Debt Collection Practices Act (FDCPA). Among other actions, the FTC filed 10 new debt collection cases, banned 47 companies and individuals from working in debt collection, and resolved nine cases totaling $140 million in judgments. [2/10/15]

CNN reports on debt collection horror stories, from threats to take away children to warnings that pets will be killed. Sounds like some debt collectors could use a refresher on FDCPA. [2/5/15]

New breed of lawsuits stretches Fair Debt Collection Practices Act beyond its original intent of shielding borrowers from abusive and unfair debt collection practices. Now attorneys are challenging the validity of the venue of lawsuits brought where lenders have moved outside the state where the collateral for the mortgage is located. [1/5/15]

The FTC and CFPB have filed an amicus brief for a case regarding the accurate interpretation of the Fair Debt Collection Practices Act. The agencies argue that the provision requiring a notice to be sent to consumers within five days after initial contact from a debt collector must be provided by each debt collector, not simply the first to make contact. The ruling in this matter could significantly affect policies and procedures for entities throughout the industry.  [8/22/14]

Yes, ACE Cash Express is a payday lender, not a bank. But the $10 million settlement the CFPB came to with ACE portends some troubling trends that banks should keep an eye on, such as how the CFPB is using its UDAAP authority to apply the Fair Debt Collection Practices Act to all first-party debt collectors and how the CFPB continues to use enforcement actions to impose requirements rather than the "notice and comment" rulemaking process. [7/24/14]

The Federal Trade Commission hits Consumer Portfolio Services (Irvine, CA) with $5.5 million settlement for violations of the FTC Act and another $2 million in civil penalties for violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. Here's a laundry list of how not to collect debt. [6/4]

Consumer Portfolio Services, Inc. agreed to pay over $5.5 million to settle charges from the FTC involving violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. Director of the FTC, Jessica Rich, was unapologetic in underscoring the clarity of the law and the blatant abuse from CPS. In addition to charges for misleading, over-charging, and harassing consumers, CPS is also charged for not establishing reasonable written procedures and for failing to properly and promptly respond to consumer disputes. [5/30]