News & Analysis as of

Collection Agencies

Mayer Brown

Wisconsin Expands Scope of Consumer Loan Licensing Provisions

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In addition to the states that, similar to Washington, have adopted “true lender” provisions, several states have recently enacted changes to their consumer loan licensing laws that expand the scope of the licensing...more

Troutman Pepper

Indiana Appeals Court Rules That a Passive Debt Buyer Is a Debt Collector under the FDCPA and State Law

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The Court of Appeals of Indiana recently upheld a lower court’s decision that a debt buyer who purchased a portfolio of defaulted student loans and placed an account with a collection agency qualifies as a “debt collector”...more

Sheppard Mullin Richter & Hampton LLP

New York Broadly Revises Hospital Financial Assistance, Medical Debt Collection and Related Requirements

Effective October 20, 2024, New York hospitals must have in place State-mandated changes to their financial assistance (“FA”) programs (including FA eligibility criteria and debt collection practices) and their practices...more

Sheppard Mullin Richter & Hampton LLP

Third Circuit Ruling Gives CFPB Green Light to Enforce Against Student Loan Trusts

In a significant ruling on March 19, the Third Circuit Court of Appeals held that the CFPB can proceed with its lawsuit against a group of Delaware student loan trusts rejecting their claims that they are just passive...more

Cozen O'Connor

The State AG Report – 3.21.2024

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Wisconsin Shows Timeshare Exit Company the Exit - ...more

Ballard Spahr LLP

Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency, and Other Financial Services...

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In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

Troutman Pepper

Utah Court of Appeals Reverses Dismissal of Consumer Claims Based on Failure to Register Under Collection Agency Act

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In a change of course, the Utah court of appeals has reversed the dismissal of a plaintiffs’ suit against a debt collector based on its alleged failure to register as a collection agency prior to filing collection suits....more

Ballard Spahr LLP

Wisconsin Senate proposes new bill to revise money transmission, consumer lenders, collection agency and other financial services...

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In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

Ballard Spahr LLP

CO and NY enact laws to prevent reporting of medical debt to credit bureaus

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Colorado and New York are not waiting for the Fair Credit Reporting Act rulemaking to eliminate creditor use of medical debt announced by the CFPB in September 2023. As we previously blogged, in the past two years, Equifax,...more

Orrick, Herrington & Sutcliffe LLP

Illinois adopts regulatory changes as part of its Collection Agency Act

On December 1, the State of Illinois’s Department of Financial and Professional Regulation promulgated final regulations implementing provisions of the Illinois Collection Agency Act. As previously covered by InfoBytes,...more

Troutman Pepper

Utah State Court Rejects Claim Based on Debt Collector’s Alleged Failure to Register Under Collection Agency Act

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The Utah court of appeals has recently affirmed the dismissal of a plaintiff’s suit against a debt buyer based on its alleged failure to register as a collection agency prior to filing collection lawsuits. The court’s...more

Ballard Spahr LLP

New Jersey Appellate Division Affirms Dismissal of Consumer Fraud Class Action Against Debt Collector under the New Jersey...

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The Superior Court of New Jersey, Appellate Division in Jennifer Woo-Padva v. Midland Funding, LLC, recently affirmed the dismissal of consumer fraud claims brought against a debt collector pursuant to the New Jersey Consumer...more

Troutman Pepper

FCRA Claim for “Misleading” Double-Reporting of Debt by Original Creditor and Collection Agency Survives Motion to Dismiss

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In Hansen v. Mountain America Federal Credit Union, the plaintiff became delinquent on a credit card account with her credit union. The credit union then assigned the debt to a third-party collection agency. Following the...more

Ballard Spahr LLP

­­­­Nevada enacts amendments allowing collection agency employees to work from remote locations

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The Nevada Legislature recently passed Senate Bill 276 (“SB 276”), which permits employees of Collection Agencies to work from remote locations and exempts certain entities from qualifying as a “Collection Agency.”  The...more

Troutman Pepper

Nevada Significantly Amends Its Collection Agency Licensing Act

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On June 16, Nevada Governor Joe Lombardo signed into law Senate Bill 276, which significantly amended Nevada Revised Statute 649, otherwise known as the Nevada Collection Agencies Licensing Act (the Act). The Act regulates...more

Orrick, Herrington & Sutcliffe LLP

Collection agency to pay $10k for operating without a license

On March 21, the Connecticut Department of Banking fined a collection agency $10,000 and ordered it to cease and desist from collection agency activity for operating without a valid license. According to the order, the...more

Orrick, Herrington & Sutcliffe LLP

Utah repeals several collection agency registration requirements

On March 17, the Utah governor signed HB 20 to repeal several of the state’s collection agency statutory provisions. Specifically, the bill repeals provisions that (i) require collection agencies to register with the Division...more

Hinshaw & Culbertson - Consumer Crossroads

Utah Governor Cox Signs Bill to Repeal Collection Agency Registration Requirements

Effective May 3, 2023, Utah House Bill 20 (Collection Agency Amendments) will repeal a majority of Utah's collection agency statutes located in Title 12 of the Utah Code. Signed by Utah Governor Spencer Cox on March 13, 2023,...more

K&L Gates LLP

The Third Time Is the Charm: The Eleventh Circuit Allows Creditor's Use of Commercial Mail Vendor

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On 8 September 2022, sitting en banc, the Eleventh Circuit held that a debt collector’s communication of a customer’s information to the debt collector’s private, third-party commercial mail vendor was not actionable under...more

Miles & Stockbridge P.C.

Collection Agency Licensing and Exemptions

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With the new collection agency rule of the Consumer Financial Protection Bureau (“CFPB”) having taken effect on November 30, 2021, we thought we could help round out your understanding of the collection agency laws by...more

Smith Debnam Narron Drake Saintsing & Myers,...

Crucial Conversations All Debt Collectors Should Have with their Creditors

With the CFPB having decided to leave the effective date of the Debt Collection Rule as November 30th, the push is on for debt collectors to ensure their compliance with the Rule by that date. As debt collectors make the...more

Goodwin

CFPB Releases New Compliance Aid

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In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more

Manatt, Phelps & Phillips, LLP

[Webinar] Navigating the Challenges of Medical Debt Recovery - October 19th, 3:00 pm - 4:00 pm ET

With Medical Debt Hitting $140 Billion, Hospitals Are Taking Action. How Can You Maximize Collections While Minimizing Risks? Find Out at a New Manatt Webinar... New research published in the Journal of the American...more

Troutman Pepper

Minnesota Establishes Licensing Requirement for Debt Buyers

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Earlier this summer, Minnesota extended many of its collection agency requirements to debt buyers through the enactment of H. F. No. 6. As of January 1, 2022, debt buyers will need to hold a collection agency license or have...more

Cozen O'Connor

Septic Tank Cleaning Products Company Settles Over Millions Of Alleged Illegal Robocalls

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The Federal Trade Commission (“FTC”) reached a settlement with septic tank cleaning products company Environmental Safety International, Inc. and related individuals (collectively “ESI”) to resolve allegations that it made...more

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