Complaint Accuses Creditor of Violating TCPA, RFDCPA
- A creditor is facing a lawsuit for allegedly violating the Telephone Consumer Protection Act and the Rosenthal Fair Debt Collection Practices Act while also invoking provisions of Regulation F for placing “repeated” calls to the plaintiff after she informed the defendant she was unable to repay the debt in question.
- More details here.
- This series is sponsored by WebRecon
California AG Goes on Attack Against Medical Debt
- The Attorney General of California yesterday sent a letter to a number of federal agencies, including the Consumer Financial Protection Bureau and the Department of Health & Human Services, calling for federal regulations on medical payment products, such as medical credit cards, saying the products “can leave users with crushing debt and long-term financial hardship, often in situations where they might have been eligible for payment reductions or charity care.” The AG is calling on the CFPB to use the Fair Debt Collection Practices Act, among other options, to hold medical credit card issuers accountable for making sure a consumer is able to repay and not eligible for other financial assistance programs.
- More details here.
CFPB Shuts Down Leasing Company, Orders $36M in Fines and Restitution
- The Consumer Financial Protection Bureau, in conjunction with 41 different states and the District of Columbia, yesterday announced an enforcement action with a consumer finance company that was accused of tricking consumers who were seeking financing at retail operations into signing leases that left consumers unable to return the merchandise. The company has been permanently banned from offering consumer leases, has been ordered to close all of its outstanding accounts, and allowing consumers to keep leased merchandise without making any further payments, which represents about $34 million. The company is also required to pay a $2 million fine, half of which will go to the CFPB and half of which will go to the states that entered into the settlement.
- More details here.
SEC Sues Debt Buyer, Accuses Owner of Fraud
- The Securities and Exchange Commission yesterday filed a lawsuit in Minnesota federal court accusing a debt buying company and its owner of defrauding investors who committed nearly $3 million that was intended to buy portfolios of distressed debt that would be placed with third-party agencies for collections, some of which was instead used to cover the owner’s personal expenses. The suit also accuses the owner of lying about how the investors’ money would be protected, that she had never been sued in a consumer protection lawsuit, and omitted that she had twice filed for bankruptcy protection.
- More details here.
WORTH NOTHING: A dog has been reunited with its owner after roaming the Atlanta airport for three weeks … I’m not a Jets fan, but you have to feel bad for them after what happened to Aaron Rodgers last night … First it was quiet quitting. Then it was loud laborers. Now, it’s boreout … Nearly 40% of Americans haven’t been to their doctor in five years … The districts that will likely decide which party controls the House of Representatives after the 2024 election … Much to my son’s dismay, McDonald’s is getting rid of self-serve soda fountains … Thanks to rising home prices and a strong stock market, Americans have never been wealthier … Night owls have more unhealthy habits and are at a higher risk for diabetes, according to new research.
Trailer Tuesday, part I
Trailer Tuesday, part II
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