Troutman Sanders

FEBRUARY 28, 2022

The filing lawsuits under the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Reporting Act (FCRA), and the Telephone Consumer Protection Act (TCPA) increased dramatically in the first month of 2022 when compared to the number of filings in January and December 2021, per a report released recently by Web Recon LLC.

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Troutman Sanders

JUNE 30, 2022

On June 29, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion focused on consumer debt collectors and the convenience fees they charge for some payments, such as online or by phone. The CFPB foreshadowed this position five years ago.

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Troutman Sanders

NOVEMBER 21, 2023

On November 16, the Consumer Financial Protection Bureau (CFPB) published its Fair Debt Collection Practices Act (FDCPA) Annual Report to Congress. The report highlights consumer protection issues in medical debt collection. The CFPB’s rule amends an appendix for Regulation V, which implements the FCRA.

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Collection Industry News

JULY 4, 2022

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on June 29, 2022, clarifying its view as to the legality under the Fair Debt Collection Practices Act (FDCPA) of “convenience fees” for optional methods of expedited payment not prescribed in the underlying loan documents, such as payment by phone or on the web.

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National Service Bureau

APRIL 15, 2015

Last week we wrote about 2014 CFPB complaints against debt collection agencies. Among the required disclosures are the present creditor’s name, the original creditor’s name upon request, the amount of debt, and a statement that the debt is assumed valid unless disputed within 30 days. #2: 2,906 complaints in 2014.

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Troutman Sanders

MAY 2, 2023

The bill additionally leaves room for assets that don’t fit neatly into either category. On April 28, the CFPB issued an interim final rule, amending the agency’s 2021 LIBOR transition rule. While prompted by activity in the mortgage space, the CFPB noted that the prohibition applies to all time-barred debt.

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Troutman Sanders

MARCH 8, 2021

Representative Madeleine Dean reintroduced the Fair Debt Collection Practices for Servicemembers Act. On March 3, the Consumer Financial Protection Bureau (CFPB) released a notice of proposed rulemaking to delay the mandatory compliance date of the General Qualified Mortgage final rule from July 1, 2021 to October 1, 2022.

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