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CFPB to Survey Consumers on Debt Collection Experiences

In considering new rulemaking for the debt collection industry, the CFPB has decided to turn directly to consumers for input. As set forth in the notice issued March 6, 2014, the CFPB plans to send out a survey in order to learn more about consumers' interactions with debt collection agencies. ...

Debt Consulting Firm Settles with CFPB for $69,075

by David N. Anthony and C. Reade Jacob, Jr. Protection Bureau asked a federal district court to approve a settlement with a New Jersey debt settlement firm that would require the firm to pay a fine of $69,075 for allegedly charging consumers illegal upfront fees for debt-settlement services they never...

CFPB Turns Its Focus to Medical Debt Collection

by David M. Gettings , Tim J. St. George and Bryan M. Haynes On December 11, the Consumer Financial Protection Bureau released a report and accompanying press release regarding the intersection of medical debt and credit reporting. This report reveals the staggering impact medical debt has on the...

Federal Court Rejects Unconscionability Argument in Forcing Debt Collection Arbitration

by Brendan H. Connors and David N. Anthony On January 20, a Missouri federal judge issued an order granting a debt collector’s Motion to Compel Arbitration in an action under the Fair Debt Collection Practices Act. Although such motions are frequently granted, the judge here rejected an argument...

NY Department of Financial Services Answers FAQs Regarding New Debt Collection Regulations

by H. Scott Kelly , David N. Anthony , John C. Lynch and Alan D. Wingfield On February 19, 2015, the New York Department of Financial Services (DFS) issued guidance in the form of FAQs on its recently-enacted debt collection regulation (23 NYCRR 1). The guidance came in response to calls from many...

NY Attorney General, FTC Bring Joint Enforcement Actions Against Debt Collectors

The New York Attorney General and Federal Trade Commission recently announced they had filed two joint federal court lawsuits against debt collectors in the Western District of New York. The Attorney General and FTC are seeking injunctive relief and damages for violations of the Fair Debt Collection...