News & Analysis as of

Settlement Agreements Debt Collection

Ward and Smith, P.A.

Collection Costs of a Non-Discharged Debt Also Are Non-Discharged

Ward and Smith, P.A. on

Bankruptcy offers debtors an opportunity for a "fresh start," the primary draw for many individuals seeking to unburden themselves of their debt. A bankruptcy discharge relieves a debtor of their legal obligation to repay...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Claims Against Operator of Training Program for Activities Arising out of Income Share Agreements

On November 20, the CFPB, along with 11 state attorneys general and state regulators, entered into a stipulated final judgement and order with a Delaware-based company and two affiliated companies (“defendants”) in the...more

Shipkevich PLLC

End of the Year for the CFPB? Not Yet! Another Order Obtained Against a Student Loan Service Provider

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On November 20, 2023, the Consumer Financial Protection Bureau (“CFPB”) announced that it had partnered with the 11 States of California, Delaware, Illinois, Massachusetts, Minnesota, North Carolina, Oregon, South Carolina,...more

Orrick, Herrington & Sutcliffe LLP

District Court approves $2.8 million settlement in FDCPA convenience fee class action

On December 22, the U.S. District Court for the Southern District of Florida granted preliminary approval of a $2.8 million settlement in an FDCPA class-action suit resolving allegations that convenience fees were charged...more

Goodwin

CFPB and NY AG Reach $4 Million Settlement with Debt Collectors

Goodwin on

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) announced that they have settled a case filed against six New York debt collection companies and affiliated...more

Freeman Law

Implied-Revocation Doctrine Revived by Texas Supreme Court

Freeman Law on

Angel v. Tauch, __ S.W.3d __ (Tex. Jan. 14, 2022) [19-0793] - Facts: South State Bank held a $4.6 million judgment against Kyle Tauch, an individual. The Bank offered to settle the judgment debt for $2 million. Before...more

Jaburg Wilk

Using Credit Reporting as Debt Collection Strategy Has Changed

Jaburg Wilk on

Credit scores are important and frequently determine interest rates and can even impact insurance rates. For many years, judgment creditors could enforce their judgments in a variety of ways. Prior to 2017, judgment creditors...more

Ballard Spahr LLP

CFPB announces proposed consent order with companies alleged to have collected loans void under state law

Ballard Spahr LLP on

The CFPB announced that it has entered into a proposed consent order with Think Finance and six subsidiaries (collectively, the “Think Entities’) to settle the Bureau’s lawsuit filed in November 2017 that alleged the Think...more

Mintz - Arbitration, Mediation, ADR...

Attacking An Inexplicable Arbitration Award: “Manifest Disregard of the Law” Or Something Else?

What to do with an arbitration award that appears to be fatally internally inconsistent and provides no explanation or reconciliation of the inconsistency? For lack of something better to say, perhaps tee up the elusive...more

Jones Day

Business Restructuring Review July-August 2019

Jones Day on

In This Issue: Washington District Court Overturns Approval of Third-Party Releases in a Settlement Agreement and Related Free-and-Clear Sale - In In re Fraser’s Boiler Serv., Inc., 2019 WL 1099713 (D. Wash. Mar. 18,...more

Ballard Spahr LLP

CFPB Touts Settlement with Debt Collection Group as Focus on Debt Collection Continues

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The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB...more

Burr & Forman

CFPB Update: April 2019

Burr & Forman on

The Consumer Financial Protection Bureau (CFPB or Bureau) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

Parties seek preliminary approval of class action settlement in Madden case

Ballard Spahr LLP on

The parties in Madden v. Midland Funding, LLC. have filed a joint motion with the New York federal district court seeking preliminary approval of a class settlement....more

Dorsey & Whitney LLP

New York District Court Applies Reyes to Squash TCPA Suit Based Upon Consent Terms Built into Sallie Mae TCPA Class Action...

Dorsey & Whitney LLP on

The Sallie Mae class settlement continues to pay major dividends for Navient Solutions (“Navient”), one of the nation’s most liberal dispensers of automated debt collection phone calls. Back in 2012, Navient—then known as...more

Ballard Spahr LLP

Five state regulators enter into settlement agreement with debt collectors for alleged federal and state law violations

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Regulators from the states of Connecticut, Idaho, Massachusetts, Minnesota and North Dakota (“Participating States”) have entered into a settlement agreement with three affiliated debt collection companies to settle...more

Foley & Lardner LLP

CFPB Settlements: It’s Not Over Until It’s Over

Foley & Lardner LLP on

On April 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) broke new ground by imposing a fine – in excess of a million dollars – against a consumer financial services company for allegedly violating the terms of...more

Ervin Cohen & Jessup LLP

Do Settlement Agreements Need to Be Approved by the Court?

QUESTION: As receiver, I sued a third party to collect funds owed to the entity in receivership. I have settled the lawsuit. ...more

Goodwin

FTC Settles with Fraudulent Debt Collectors for Millions as Operation Collection Protection Continues

Goodwin on

On July 14, 2016, the FTC announced that, as part of an ongoing crackdown on deceptive collection practices, it reached a settlement with two debt collectors and three companies charged with using illegal collection tactics. ...more

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