Collection Industry News

MAY 15, 2025

Debt collectors working for the schemes operators and their affiliated companies have sent consumers deceptive warning and collection letters or called them directly, claiming that consumers owed a debt of some kind and threatening legal action, wage garnishment, negative impacts to consumers credit, and even arrest if they dont pay.

Consumer Credit 40

Consumer Credit Garnishment Law Firms Collections 40

True Accord

JANUARY 21, 2025

CFPB Looks at Medical Debt, Student Loans and So Much Data Medical debt wasnt the only focus for the Consumer Financial Protection Bureau in Q4. and was broad-based across income and education groups. What Does This Mean for Debt Collection? from 13.2% in December and the highest since May last year.

Student loans 104

Student loans Student Loans Credit Card Debt Financial Institution 104

Taurus Collect

JUNE 16, 2024

Why Compliance and Regulations Matter in UK Lending Understanding the importance of compliance and regulations in debt collection is crucial for debt collecting companies in the UK. They oversee debt collecting companies to ensure fair treatment of customers. Best Practices for Compliance in Collections 1.

Lender 69

Lender Collections Collections Agency Collection Agencies 69

Troutman Sanders

JULY 11, 2023

The CFPB further alleged that the defendants made guarantees about lowering consumers’ credit card interest rates. The defendants also pitched a credit card debt elimination service, and alleged that they could access funds from the government or from a lawsuit against the credit card industry to pay off consumers’ credit card debt.

Financial services 40

Financial services Student loans Student Loans Credit Card Debt 40

Burt and Associates

OCTOBER 31, 2024

Introduction: Provides an overview of the CFPB’s enforcement actions addressing illegal debt collection practices in 2023. Case Summaries: Summarizes four specific enforcement actions taken by the CFPB against debt collection companies, highlighting the violations found and the remedies imposed. Consumer Education 6.1

Collections 52

Collections Debt collector Education Fair Debt Collection 52