News & Analysis as of

Debt Fair Debt Collection Practices Act Consumer Financial Protection Bureau (CFPB)

Sheppard Mullin Richter & Hampton LLP

CFPB Targets Medical and Rental Debt Collection in 2024 Annual Report

On September 5, the CFPB issued its annual report on debt collection practices, detailing the Bureau’s efforts to enforce the Fair Debt Collection Practices Act (FDCPA). This year’s report focuses on improper practices in the...more

Ballard Spahr LLP

CFPB: Most debt collection complaints in 2023 were attempts to collect debts not owed

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The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more

McGlinchey Stafford

NJ District Court Underscores Limits of “Safe Harbor” Protection Under Regulation F

McGlinchey Stafford on

On May 7, 2024, the United States District Court for the District of New Jersey issued a decision holding that the use by a debt collector of the Model Form validation notice under Regulation F does not guarantee compliance...more

Troutman Pepper

CFPB Amicus Brief Supports FDCPA Claim for Unknowing Stay Violation

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On January 2, the Consumer Financial Protection Bureau (CFPB) filed an amicus curiae brief urging the U.S. Court of Appeals for the First Circuit to reverse a district court’s decision finding that a debt collector lacked the...more

Ballard Spahr LLP

CFPB files amicus briefs in FDCPA case and also files amicus brief in FCRA case jointly with FTC

Ballard Spahr LLP on

The CFPB recently filed two amicus briefs, one in a First Circuit case involving the Fair Debt Collection Practices Act (FDCPA) and the other, which was filed jointly with the Federal Trade Commission, in a Fourth Circuit...more

Troutman Pepper

CFPB Shuts Down Medical Debt Collector for Attempting to Collect Unverified Debt

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On December 15, the Consumer Financial Protection Bureau (CFPB) announced it had reached a settlement with medical debt collector Commonwealth Financial Systems, Inc. (Commonwealth) in its lawsuit over alleged illegal debt...more

Ballard Spahr LLP

CFPB settles claims against operator of training program arising out of income share agreements

Ballard Spahr LLP on

The CFPB recently announced the settlement of a bankruptcy court adversary proceeding filed jointly with the Attorneys General of 11 states against Prehired, LLC (Prehired) and two affiliated companies (Prehired Affiliates)...more

Troutman Pepper

Medical Debt Under the Microscope: Insights from the CFPB’s 2022 FDCPA Report

Troutman Pepper on

On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. This...more

Alston & Bird

What Do the CFPB’s and FTC’s 2020 Debt Collection Activity Forecast for 2021?

Alston & Bird on

Debt collectors can expect the Consumer Financial Protection Bureau and Federal Trade Commission to be active regulators in the Biden Administration, especially during – and in the wake of – the COVID-19 pandemic. Our...more

Goodwin

Financial Services Weekly News: SEC Amends Auditor Independence Rules

Goodwin on

In This Issue. The Securities and Exchange Commission (SEC): (i) adopted amendments clarifying auditor independence rules in light of lending relationships with shareholders of an audit client; (ii) adopted a set of new...more

Burr & Forman

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Ballard Spahr LLP

CFPB files amicus brief in Ninth Circuit FDCPA case

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The CFPB, together with the FTC, has filed an amicus brief in Hernandez v. Williams, Zinman & Parham, P.C., a Fair Debt Collection Practices Act case on appeal to the U.S. Court of Appeals for the Ninth Circuit. ...more

K&L Gates LLP

The CFPB Signals Revolutionary Changes to the Collection Industry

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For Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) followers, the Bureau’s advanced notice of proposed Regulation F seeking comment on potential rules under the Fair Debt Collection Practices Act (“FDCPA”)...more

Ballard Spahr LLP

CFPB files amicus brief in FDCPA case

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A new amicus brief filing by the CFPB recently appeared on the CFPB’s amicus program webpage. On August 14, 2013, the CFPB, jointly with the FTC, filed an amicus brief in Delgado v. Capital Management Services, LP, et al., a...more

Ballard Spahr LLP

Senate hearing on debt industry focuses on documentation and medical debts

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Collection documentation and medical debts proved to be the focus of much of yesterday’s Senate Banking Committee hearing on the debt industry. The witnesses were Corey Stone, CFPB Assistant Director, Office of Deposits,...more

Ballard Spahr LLP

CFPB Targets Debt Collection in New UDAAP Bulletins, Complaint System, Consumer Action Letters

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The Consumer Financial Protection Bureau made clear that debt collection continues to be a major focus by issuing two new bulletins and five action letters for consumers to use when responding to debt collectors....more

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