Remove category federal-trade-commission
article thumbnail

Can a Collection Agency Report to the Credit Bureau Without Notifying You?

Credit Corp

Knowing illegal debt collection practices can help identify when you’re being treated unfairly. The Fair Debt Collection Practices Act is a federal law that protects consumers against certain unfair collection practices. It applies to only external or third-party debt collectors and only for personal debts.

article thumbnail

Does Paying Off Collections Improve Your Credit Score?

Credit Corp

When you default on a payment, the company you owe may sell your debt to a third-party collection agency. When this happens, it means your debt has gone to collections and debt collectors from the collection agency will now try to contact you for payment. How Does Collections Debt Affect Your Credit Score?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Debt Collection and Estates: District of New Jersey Court Grants in Part and Denies in Part Defendant’s Motion to Dismiss FDCPA Case

Troutman Sanders

Greenspoon Marder LLP , Judge Vazquez of the District Court for the District of New Jersey granted the defendant’s motion to dismiss the plaintiff’s Fair Debt Collection Practices Act (FDCPA) claim in part and dismissed it in part. ” The court analyzed each of the plaintiff’s contentions in turn.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On December 15, the Securities and Exchange Commission (SEC) denied Coinbase’s Petition for Rulemaking, which was submitted to the SEC on July 20, 2022, as “currently unwarranted.” On December 13, by a vote of 4-1, the Federal Communications Commission (FCC) adopted new rules aimed at “closing the ‘lead generator’ robocall/robotexts loophole.”

article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

To help you keep abreast of relevant activities, below is a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

The bill additionally leaves room for assets that don’t fit neatly into either category. The interim final rule contains updates to reflect the subsequent enactment of the Adjustable Interest Rate (LIBOR) Act and issuance of an implementing regulation by the Board of Governors of the Federal Reserve Board System.