Remove 2023 11
article thumbnail

Suit Accuses Collector of Not Sending Validation Notice

Account Recovery

But, interestingly, the plaintiff is not claiming anything related to being offer to settle a $1,600 debt for $150, only to be told later that the debt could only be settled for $940. The claims: The lawsuit accuses the defendant of violating Section 1692e(10) of the FDCPA and Section 1006.6 Learn more.

article thumbnail

Utah’s H.B. 20 Signed into Law, Reducing Red Tape for Debt Collection Agencies

Troutman Sanders

In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements. See Utah Code Ann. § As a consequence of the repeal, such lawsuits may no longer be viable in Utah.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ninth Circuit Rejects Constitutional Challenge to Nevada Medical Debt Legislation; Also Finds Legislation Not Preempted by FDCPA or FCRA

Troutman Sanders

During the 60-day period following the notice, a collection agency cannot take “any action to collect a medical debt.” In an opinion dated June 15, 2023, a majority of the three-judge panel affirmed the district court’s order. After all, “there is only one reason debt collectors reach out to debtors — to collect debts.”

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On November 7, the Commodity Futures Trading Commission (CFTC) announced that, in 2023 alone, the cumulative penalty amount stemming from consent orders it entered with digital asset-based companies totaled $4.3 For more information, click here. For more information, click here. For more information, click here.

article thumbnail

Third Circuit Affirms Dismissal of FDCPA Claim Arising from State Court Clerical Error

Troutman Sanders

May a debt collector incur liability under the Fair Debt Collection Practices Act (FDCPA) by seeking to collect a debt under a state court judgment later determined to be void? Not according to the Third Circuit Court of Appeals in a nine-page opinion issued on January 11, 2023 in the case of Barbara Lowe v.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On December 12, the Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the third quarter of 2023. The OCC Mortgage Metrics Report, Third Quarter 2023 showed that 97.3% On December 11, the OCC published its 2023 Annual Report.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. On July 26, the CFPB published its Summer 2023 Supervisory Highlights report. The amendment, led by U.S. For more information, click here. Bonta, along with the U.S. For more information, click here.