Troutman Sanders

JUNE 28, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On June 7, the Connecticut Department of Banking assessed fines against a collection agency for operating in the state without a license.

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Financial services Financial Institution Collection Agencies Collections Agency 52

Burr Forman

DECEMBER 4, 2020

With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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Financial Institution Garnishment Collections Foreclosure 52

Jimerson Firm

JULY 21, 2021

Nevertheless, there appears to be an increase in class action complaints alleging violations of consumer protection laws such as Fair Debt Collection Practices Act (FDCPA), Florida’s Consumer Collections Practices Act (FCCPA), Fair Credit Reporting Act (FCRA), or Telephone Consumer Protection Act (TCPA).

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Judgment Fair Debt Collection Government Financial services 98

FDCPA Defense

AUGUST 16, 2012

On February 17, 2012, the CFPB published its Proposed Rule Defining Larger Participants in Certain Consumer Financial Product and Service Markets. Entities in the debt collection market that generate $10 million in annual receipts from consumer collection activities would be deemed a “larger participant” in the market.

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Collections Fair Debt Collection Law Firms Consumer Collections 40

FDCPA Defense

FEBRUARY 20, 2012

After all, those “supervised institutions” regulated by the CFPB are just the really huge banks, mortgage companies, and securities firms, right? The CFPB recently issued a proposed rule to define “larger participants” in the market for consumer debt collection, i.e., the entities who will be subject to the Bureau’s supervisory powers.

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Debt collector Law Firms Lawyers Collections 40

FDCPA Defense

FEBRUARY 1, 2018

Attorneys and other entities that regularly engage in collection work for community associations may be subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. as well as analogous state laws governing the consumer collection process. Washington Mutual Bank , 2012 WL 715270, at *4 (E.D.

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