Collector Sued for Marking Refusal to Pay as Dispute
- In terms of details and significance, there isn’t a lot to this particular complaint. But it serves as a reminder to collection operations about the importance of how to handle communications from consumers that are disputes, refusals to pay, or requests to cease communication and that one response does not always fit all. It also speaks to the trend of marking any of these types of communications as disputes and how that may not always be the best course of action.
- More details here
CFPB Agrees to Vacate Medical Debt Credit Reporting Rule
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- The Consumer Financial Protection Bureau has agreed to end a lawsuit by joining industry groups in asking a federal judge to vacate its controversial rule banning the reporting of medical debt on consumer credit reports.
- More details here
FTC Moves to Shut Down Phantom Debt Collection Scheme
- In what might be the first enforcement action related to the debt collection industry under the Trump administration, the Federal Trade Commission yesterday announced a proposed permanent injunction against against Global Circulation and its owner, Kenneth Redon III, for engaging in a fraudulent debt collection scheme. The FTC’s investigation revealed that the company and Redon used deceptive tactics to force consumers into paying debts they did not owe. The FTC filed an amended complaint this week, detailing violations of the Federal Trade Commission Act, the Fair Debt Collection Practices Act, the Gramm-Leach-Bliley Act, and the FTC’s Impersonation Rule.
- More details here
Maryland Enacts Medical Debt Credit Reporting Law
- The governor of Maryland last week signed HB 1020, the Fair Medical Debt Reporting Act into law, which makes it the latest state to enact a medical debt credit reporting law.
- More details here
WORTH NOTING: Fewer parents are reading to their kids these days … How to figure out if you need a food processor, a blender, or both … People are putting their foot down over Real ID licenses … What to eat when you are sick … For a lot of people, financial issues are affecting their mental health … A number of former CFPB officials have found a new home … Karma has a double standard, according to new research … How to stand up for yourself at work more effectively.
Funny Friday, part I
Funny Friday, part II
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