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CFPB Issues $4M in Penalties and Permanent Bans Against Predatory Collection Ring

True Accord

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed judgment against a debt collection enterprise with a history of deception and harassment to pay $4 million and be permanently banned from the debt collection industry.

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CFPB, FTC, Federal and State Law Enforcement Crackdown on Corrupt Debt Collectors

Collection Industry News

The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L. “The The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L. Kraninger said in a press release. “We In CFPB et al. In CFPB et al.

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A phantom debt collection scam duped consumers out of more than $1 million. Here are 5 ways you can avoid falling victim

Collection Industry News

More than $1 million, or an average of $516 for each payment, is being returned to the victims either via PayPal or a mailed check, the Federal Trade Commission recently announced. ″ Consumers will be recovering all the money they lost to the scammers,” the FTC noted. Request a debt validation letter. Negotiate existing debts.