Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud.

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Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

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Troutman Sanders

NOVEMBER 13, 2023

On November 7, the Commodity Futures Trading Commission (CFTC) announced that, in 2023 alone, the cumulative penalty amount stemming from consent orders it entered with digital asset-based companies totaled $4.3 For more information, click here. Annual report requirements will be adopted through a separate rulemaking.

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Troutman Sanders

MARCH 4, 2024

According to the lawsuit, the merger would violate the federal Clayton Act, which prohibits the acquisition of assets where the effect of such acquisition may substantially lessen competition or create a monopoly. For more information, click here. On February 26, District of Columbia Mayor Muriel Bowser signed B25-0663.

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Troutman Sanders

JUNE 14, 2023

On June 8, the Commodities Futures Trading Commission (CFTC) obtained a default judgment against a decentralized autonomous organization (DAO) Ooki Dao in the U.S. On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. For more information, click here.

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Troutman Sanders

JANUARY 26, 2021

Earlier this month, then President-elect Joe Biden nominated Rohit Chopra, currently a Federal Trade Commission commissioner, to serve as the third director of the CFPB. Uejio currently serves as the chief strategy officer, and he previously served as the acting deputy chief of staff and lead for talent acquisition.

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