Collection Industry News

JULY 4, 2022

In short, the press release associated with this advisory opinion quotes CFPB Director Rohit Chopra as clarifying his view that “Federal law generally forbids debt collectors from imposing extra fees not authorized by the original loan,” and that “these fees are often illegal.” SAC 14-0771-DOC, 2015 WL 4254032, at 10 (C.D.

Debt collector 40

Debt collector Fair Debt Collection Collections Loans 40

Troutman Sanders

FEBRUARY 8, 2021

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.

Debt collector 52

Debt collector Collections Fair Debt Collection Trade 52

True Accord

JULY 13, 2023

There were also a couple of notable court decisions impacting debt collectors last quarter. Key Indicators and the Student Loan Predicament According to the New York Fed’s Quarterly Report on Household Debt and Credit , total household debt increased in the first quarter of 2023 by $148 billion (.9%) 9%) to $17.05

Financial Institution 65

Financial Institution Student loans Student Loans Loans 65

FDCPA Defense

NOVEMBER 11, 2014

Although collectors are not required to quote from the text of section 1692g verbatim, that is probably a good first step. The First Circuit recently observed: “Overshadowing is rarely a black-or-white proposition: there are many shades of gray. we look first to what Congress said the validation notice must contain.

Debt collector 40

Debt collector Debtor Creditors Original Creditor 40