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Debt Collectors Collection Agencies Financial Services Industry

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

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

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

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

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

Miles & Stockbridge P.C.

Prepare to Be Licensed. California Enacts a Law to License Debt Collectors, But Much Needs to Be Done to Clarify the Licensing...

Every so often, the extent of state laws providing for the licensing of collection agencies needs to be re-examined. As every state, including two of the most prominent states, California and New York, historically had not...more

Hudson Cook, LLP

Servicing Customers Affected by Natural Disasters: Tips for Unsecured and Personal Property Secured Creditors to Prepare for the...

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Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more

Ballard Spahr LLP

West Virginia enacts significant amendments to debt collection law

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Significant changes to West Virginia’s debt collection law will take effect on July 4, 2017.  Senate Bill 536, approved by the state’s governor on April 21, 2017, includes the following amendments...more

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