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The Federal Reserve Bank of New Yorks Quarterly Report on Household Debt and Credit for Q1 2025 reveals an increase in total household debt, now surpassing $18 trillion. While other debts saw slight reductions, a significant rise in student loan delinquencies signals an emerging concern. The resumption of delinquent student loan reporting after a pandemic hiatus has led to a sharp increase in the number of borrowers facing serious payment issues.
California Appeals Court Vacates Rulings in Favor of Debt Buyer CFPB Proposes Scrapping Registry of Nonbank Offenders Student Loan Default Spike Leads to Grave Consequences for Consumers: NY Fed 23 Companies Seeking Collection Talent WORTH NOTING:40% of dog owners say their pet’s health is more important than their own … How someone with a life-threatening food allergy packs when she travels … Egg prices have declined for the first time in months … The one word that can b
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.
A California Appeals Court has vacated rulings in favor of a debt buyer and ordered a lower court to award summary adjudication in favor of two consumers on the grounds that they were not required to show they suffered concrete harm or needed standing to accuse the debt buyer of violating California’s Fair Debt Buying Practices Act. The background: In two nearly identical cases, the debt buyer sued consumers for unpaid debts they had incurred through online credit platforms.
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
In a case that was defendant by Lippes Mathias, a serial plaintiff who has filed nearly two dozen lawsuits against financial services companies and debt collection operations has had a lawsuit he filed alleging violations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act dismissed because the allegation he made that he was in poverty when seeking to proceed with the case and not pay the usual filing fees was untrue, a District Court judge in California has ruled.
A Bankruptcy Court judge in New York has granted a plaintiff’s motion for a preliminary injunction that will block the collection efforts on thousands of student loans that individuals allege were discharged in bankruptcy, ruling that there was no legal interest in continuing to collect on these debts. Judge Elizabeth S. Stong, of the Bankruptcy Court for the Eastern District of New York, issued the ruling last week.
Collector Facing FDCPA Class Action for Failing to Include Expiration Date in Settlement Offer Judge Dismisses FCRA, FDCPA Case From Serial Filer Over Untrue Allegations in IFP Motion Bankruptcy Court Blocks Collection Efforts on Discharged Student Loans Compliance Digest May 13 WORTH NOTING:Turns out that where you live has a big impact on how long you live … Employers seem to have gained the upper hand from employees, thanks to technology like AI … Apparently people love humidity
Administration Shifts Gears: CFPB Nominee McKernan Tapped for Treasury Post Instead CFPB Withdraws Massive Amount of Previously Issued Guidance Consumer Groups Granted Role in Legal Battle Over CFPB Medical Debt Rule N.J. Appeals Court Rules Debt Adjustment Law Unconstitutional for Lawyers N.J. Appeals Court Affirms Dismissal of Case Over Alleged Licensing Violations WORTH NOTING:Inflation is changing the way that we eat … A new rule from the Federal Trade Commission on unfair and deceptiv
A federal judge has approved a motion allowing two individuals and two consumer advocacy organizations to intervene in the legal fight over the Consumer Financial Protection Bureaus rule banning medical debt from consumer credit reports. Why it matters: The intervention ensures continued legal defense of the rule after the CFPB, under new leadership, reversed course and asked the court to vacate the regulation.
In a case that was defended by Rick Perr and Monica Littman of Kaufman Dolowich, a New Jersey Appeals Court has affirmed a lower court’s dismissal of a case accusing a collection operation of violating the New Jersey Consumer Finance Licensing Act and the Fair Debt Collection Practices Act, agreeing with the state court judge that the NJCFLA does not allow for a private right of action.
A new report from the Federal Reserve Board’s Office of Inspector General has revealed that the Consumer Financial Protection Bureau lacks adequate controls to prevent and respond to breaches of confidential supervisory information (CSI), including one serious 2023 incident that exposed data on 256,000 consumers and 46 financial institutions. 📂 What happened: In 2023, a CFPB examiner forwarded roughly 65 emails containing CSI and personally identifiable information (PII) to their p
Lenexa, KS – Today TrueAccord Corp. (TrueAccord), a digital-first debt collection agency that is reinventing the collections experience with the use of machine learning technology to help customers resolve their debts, announced it has acquired Sentry Credit, Inc. (Sentry). Through this strategic acquisition, TrueAccord continues to accelerate its industry-leading growth with an expanded client portfolio and the addition of Sentrys first-party collection and litigation services.
The rise of medical credit cards has become a prevalent solution to address growing healthcare expenses, particularly among patients struggling to pay their medical bills. These cards, which offer deferred interest terms, have become a common way for patients to finance their medical debt, enabling them to avoid immediate interest payments for a set period.
Consumer Seeks Two-For-One Special in FDCPA Complaint Judge Dismisses FDCPA, FCRA Case Over Who Owed Debt Report Calls For CFPB to Strengthen Protections to Confidential Information Which Specialties are Most Likely to Offer Patients Medical Credit Cards TrueAccord Accelerates Growth with Acquisition of Sentry Credit WORTH NOTING:Insights and information about Pope Leo XIV, the first American pontiff … Why your headache is worse when you drink red wine instead of white or sparkling …
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
In a case that was defended by Dale Golden and Joe Proulx of Martin Golden Lyons Watts Morgan, a District Court judge in Alabama has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act and Fair Debt Collection Practices Act case, ruling that an illegible signature on a work order was not sufficient to allow the defendant to determine that the account was someone else’s and not hers.
Getting to Know Jason Roozee of Rozlin Financial Group S.C. Supreme Court Drops Review of Right-to-Cure Lawsuit Bipartisan Medical Debt Collection, Credit Reporting Bill Introduced in Ohio Appeals Court Affirms Ruling for Defendants in TCPA Case The Dialer Strategy Behind a 66% Collections Increase WORTH NOTING:Some cheap and easy suggestions to help you stock your emergency go bag … Researchers have developed a “body clock” to calculate your biological age … Virginia has
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
The South Carolina Supreme Court has changed its mind and will not issue a ruling in a case over whether a debt collector is required to send a right-to-cure notice to a consumer under state law before filing a lawsuit to collect on an unpaid debt. The Supreme Court had heard arguments in the case of Portfolio Recovery Associates v. Campney last month, but then issued a ruling in which it dismissed the case as “improvidently granted” which basically means it should not have heard the
A bipartisan bill has been introduced in the Ohio legislature that would establish a series of consumer protections surrounding the collection of medical debt, including capping interest rates on medical debt, prohibiting credit reporting of medical debts, and protecting consumers from wage garnishments. Driving the news: State Representatives Michele Grim, a Democrat, and Jean Schmidt, a Republican, introduced House Bill 257, known as the Ohio Medical Debt Fairness Act, during the 20252026 legi
The Court of Appeals for the Fourth Circuit has agreed with a lower court’s ruling that a group of lawyers and debt relief companies did not engage in “sham litigation” when they allegedly lured individuals into filing lawsuits against student loan giant Navient for violating the Telephone Consumer Protection Act. The background: The case stemmed from a 2019 civil lawsuit filed by Navient, which accused a group of lawyers and debt relief businesses of conspiring to defraud the
EDITOR’S NOTE: The following article was written and submitted by the team at Prodigal 66% might sound too good to be true, right? We thought the same thing at firstlike, These numbers must be off! But after taking a deeper dive, the data spoke loud and clear: Using our dynamic dialer strategy our client earned an average of 66% more in collection fees per hour compared to the traditional rule-based methods.
TrueAccord is proud to announce that Katie Neill, its General Counsel & Chief Compliance Officer, has been appointed to the Debt Collection Advisory Committee of the California Department of Financial Protection and Innovation (DFPI) for the 2025-2027 term. This board is comprised of seven members who provide feedback to the DFPI for its debt collection licensing program.
The Governor of Virginia has signed a medical debt collection bill into law that will place limits on how healthcare debts owed by Virginians are able to be collected. Driving the news: Virginia Governor Glenn Youngkin has signed HB 1725, also known as the Medical Debt Protection Act, into law. The legislation introduces new restrictions on the collection of medical debts, seeking to protect patients from aggressive collection practices and additional financial hardship.
Appeals Court Overturns Ruling in FCRA Dispute Case Virginia Enacts Medical Debt Collection Law CFPB Drops Enforcement of BNPL Regulation 22 Companies Seeking Collection Talent WORTH NOTING:Students may look forward to this time of the year, but parents do not … With the weather getting warmer and more people heading outdoors, here is a list of some handy grilling tools … Ten surprising facts about papal conclaves … Nearly 60% of consumers believe they will never get out of deb
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant to be a service to aggregate industry job opportunities into one convenient location.
The Court of Appeals for the Third Circuit has overturned a summary judgment ruling in favor of a defendant that was sued for violating the Fair Credit Reporting Act because it reported an overdue balance to the credit reporting agencies after receiving notice that the balance was being disputed by the plaintiffs. The background: This case stems from a dispute between the plaintiffs and one of the defendants regarding a vehicle lease.
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
The Court of Appeals for the Eleventh Circuit has affirmed a trial ruling in favor of a defendant that was sued for allegedly violating the Fair Credit Reporting Act by reporting inaccurate information to the credit reporting agencies and for not reasonably investigating disputes filed by the plaintiff. The background: The plaintiff had personal and business loans with the defendant and signed a personal guarantee for the business loans.
I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.
NEW YORK — There is clearly going to be a vacuum with respect to rulemaking, supervision, and enforcement of consumer financial services companies for at least the next three-plus years, and the expectation is that states will fill that void, but there are genuine questions about how states are going to accomplish that with limited staffs and budgets and the bigger problem for companies in this industry may be at the lower levels of government, a panel of compliance experts discussed yeste
Student Loan Collections Resume Today Judge Imposes $43M Judgment Against Owner of Debt Relief Company N.J. Appeals Court Affirms Dismissal of Hunstein Class Actions Bankruptcy Filings Continue to Climb, Rising 13.1% WORTH NOTING:People in this industry might have something to say about this, but here is a list of the 20 toughest jobs in America … Advice from a financial expert if you are feeling nervous about tariffs … Gossiping may be good for you and your mental health, according
A New Jersey Appeals Court on Friday issued rulings in four separate cases affirming dismissals of lower court rulings in Fair Debt Collection Practices Act class-action cases that all had the same backstory Hunstein cases in which the plaintiffs accused the defendants of violating the statute by using a third-party to print and mail collection letters.
Bankruptcy filings rose 13.1% during the 12-month period ending March 31, 2025, according to data released by the Administrative Office of the U.S. Courts. Total filings reached 529,080, up from 467,774 in the prior year. The big picture: While bankruptcy filings have climbed for nine consecutive quarters, totals remain well below the historic highs seen after the 2007-08 financial crisis, when filings peaked near 1.6 million in 2010.
After a five-year hiatus, the Department of Education will resume involuntary collections on federal student loans today, impacting millions of borrowers already in default. As of May 5, the department will begin garnishing wages, tax refunds, and Social Security payments for borrowers who have defaulted on their loans, a significant shift after a pandemic-era pause on collections.
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. Background: Latest developments: Between the lines: What theyre saying: Whats next: The court still must formally approve the consent judgment.
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. Why it matters:HB 1020, effective October 1, 2025, restricts how medical debt can be handled by credit reporting agencies, healthcare providers, and debt collectors in Maryland.
Collector Sued for Marking Refusal to Pay as Dispute CFPB Agrees to Vacate Medical Debt Credit Reporting Rule FTC Moves to Shut Down Phantom Debt Collection Scheme Maryland Enacts Medical Debt Credit Reporting Law 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 issue
EDITORS NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
A District Court judge in Illinois has partially granted and partially denied a plaintiff’s motion to remand a Fair Debt Collection Practices Act case back to state court where it was originally filed, ruling that it has jurisdiction over the plaintiff’s claims that the defendant failed to note the account was disputed with the credit reporting agencies.
Key Insights: A combination of rising costs, economic uncertainty, and limited access to traditional credit options is pushing consumers into alternative payment methods like BNPL, while also contributing to a widespread sense of financial stagnation. Several reports reveal the extent to which these factors are influencing consumer behavior and financial well-being in 2025.
Getting to Know Barbara Garner of National Bureau of Collections CFPB Roundup Court Partially Grants and Denies Motion to Remand FDCPA Case to State Court Economic Uncertainty Drives Shifting Consumer Payment Habits: The Rise of BNPL and Financial Stress Richland Bureau of Credits Joins Beyond Green Solutions WORTH NOTING:How deep does your love run?
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