Collection Industry News
JANUARY 24, 2022
On January 18, the CFPB filed a proposed final judgment against an Illinois-based third-party payment processor BrightSpeed Solutions and its founder Kevin Howard (collectively, “defendants”), which ceased operations almost three years ago, settling claims that the defendants facilitated payments for telemarketing fraudsters targeting seniors.
Collection Industry News
JUNE 14, 2021
The government alleged that Nocera gave his debt collectors drugs to make them more aggressive. In 2019, debt collector Douglas MacKinnon and his Buffalo area companies, Northern Resolution Group, and Enhanced Acquisitions, agreed to pay $60 million to resolve a lawsuit filed by the U.S. A judgment of $22.5
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Collection Industry News
OCTOBER 27, 2020
Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. The District Court denied Axiom’s motion, applying precedent from the U.S.
Collection Industry News
APRIL 11, 2022
Organizations contemplating an investment or acquisition in private higher education also will want to consider this development carefully. has consented to or has a judgment of fraud or misrepresentation. score below 1.5 since its last certification (initial or. defense or false certification claims for the institution, or if.
Collection Industry News
JUNE 14, 2021
In recent years, authorities have either fined, seized or issued judgments totaling $120.4 million in fines, penalties, cash seizures and judgments against local debt collectors over the past several years, but only a fraction of that amount has been paid. The government also seized $193,837 from Ciffa’s bank and MoneyGram accounts.
Troutman Sanders
MARCH 4, 2024
The OAG also found that the debt collection law firm illegally continued to pursue consumers for debts that were already paid or partially paid, and sometimes garnished wages for judgments that were completed. For more information, click here. On February 26, District of Columbia Mayor Muriel Bowser signed B25-0663.
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. These amendments will become effective on July 1, 2024, and will govern consumer credit transactions occurring after that date. For more information, click here.
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