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

To date we have not had any regulations that interpreted and implemented the Fair Debt Collections Act, which sometimes makes compliance with the Act challenging. The CFPB plans to change that and has issued an advanced notice of proposed rulemaking that includes 162 questions that are worth considering. [5/22]

In 2013, the U.S. Supreme Court ruled that a debt collector can be awarded costs even when the suit wasn't brought in bad faith. If it passes, new legislation would amend the Fair Debt Collection Practices Act to limit that provision to when the plaintiff brings a suit in bad faith or for the purpose of harassment. [5/14]

While the FDCPA does not apply to financial institutions collecting a debt that they own or service, recent CFPB actions suggest that may be changing. [3/27]

While debt collection complaints logged by the CFPB declined 20 percent in February, lawsuits claiming violations of the Fair Debt Collection Practices Act increased more than 10 percent. [3/25]

FTC notes increased actions regarding enforcement of Fair Debt Collection Practices Act citing various cases brought during 2013. While actions were largely directed at third-party debt collectors, best-practice lessons remain: Ensure authorized contacting of third parties about consumers’ debts, disclose name of involved collectors and facts associated with debt collection efforts, and notify consumer of rights to dispute and obtain verification of their debts. [3/6]

FTC signals it won't be taking a backseat to the CFPB when it comes to FDCPA enforcement with its annual summary of debt collection practices. [3/6]

Guidance on key aspects of mortgage servicing rules including post mortem, early intervention on delinquency, elements of collection and requirements under Fair Debt Collection Practices (FDCP). [10/16]

Early intervention requirements, home retention efforts after a borrower dies, and the interplay between servicing rules, bankruptcy code and Fair Debt Collection Practices are addressed in a bulletin and interim final rule released by the CFPB. [10/16]

Consumer alleges violation of Fair Debt Collection Practices Act because agency failed to properly inform her about interest accruing on her defaulted Victoria's Secret account (a follow-up letter stated an increase of $11 in the balance due); class action lawsuit filed in U.S. District Court. [9/25]

Report that CFPB's director says agency will be looking to write new regulations under the Fair Debt Collection Practices Act (FDCPA). [9/9]