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CFPB Shuts Down Commonwealth Financial Systems for Illegal Debt Collection Practices

Collection Industry News

Commonwealth is a third-party debt collector that specializes in the collection of past-due medical debts and furnishes information about consumer collection accounts to consumer reporting companies.

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What to Expect in New York Debt Collection Law in 2022

FFGN COLLECT NY

In November, New York Governor Kathy Hochul signed the Consumer Fairness Act , which takes effect on May 22, 2022, six months after the bill was signed into law. There is one change that is most significant and, if you are working with consumers, will directly affect you.

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Eleventh Circuit Holds Transmitting Consumer Information to Third Parties Exposes Debt Collectors to Liability under the FDCPA

Burr Forman

An additional consideration with these state statutes is the potential new liability of first-party debt collectors. While the FDCPA generally only regulates third-party debt collectors, some state statutes do not make that distinction.