Troutman Sanders

MARCH 29, 2021

On March 23, Representatives Steve Cohen, Suzanne Bonamici, and Alexandria Ocasio-Cortez introduced the Fair Debt Collection Improvement Act that would prohibit debt collectors from collecting or attempting to collect debt from consumers after a statute of limitation expires. For more information, click here.

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Troutman Sanders

JULY 7, 2021

Federal Activities: On July 1, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new complaint bulletin covering several areas of concern on relief provided in response to the COVID-19 pandemic, including the Centers for Disease Control and Prevention (CDC) eviction moratorium. For more information, click here.

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True Accord

NOVEMBER 20, 2023

Both the federal and DC laws permit debt collectors to communicate digitally about a consumer’s account as long as the digital communications contain clear and conspicuous opt-out language with strict penalties for failing to abide by the opt-out provisions.

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. They recently acquired Alltran Financial Services in 2020. Debt Validation. Calling you before 8:00 A.M

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Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” Zachary Dunn is an attorney practicing in Smith Debnam's Consumer Financial Services Litigation and Compliance Group.

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Troutman Sanders

MARCH 4, 2024

An investigation by the Office of the AG (OAG) found that the debt collection law firm and its subsidiary often sued tenants on behalf of landlords in New York City Civil Court on issues that were already resolved in Housing Court. For more information, click here. s Municipal Regulations. regulations allow utilities 10 business days.

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Better Credit Blog

APRIL 1, 2022

Within your lifetime, you may have a period of financial distress. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt.

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Collection Industry News

MAY 24, 2021

Andrew Cuomo (D) signed legislation on Thursday that blocks debt collectors from garnishing residents’ coronavirus stimulus payments. And if their funds have been inadvertently frozen by a debt collector, they can complete a form to get the funds released. Source: site. New York Gov. Kevin Thomas (D-N.Y.)

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Troutman Sanders

NOVEMBER 8, 2022

House of Representatives, seeking to protect a greater portion of consumers’ disposable income from garnishment. 9224) would amend the Consumer Credit Protection Act to raise the amount of a consumer’s disposable income protected from garnishment to $1,000 or 75%, whichever is greater. For more information, click here.

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Consumer Financial Services Law

OCTOBER 13, 2016

The Consent Order further reiterates the CFPB’s position that first party debt collectors, while not subject to the FDCPA, are prohibited from engaging in unfair, deceptive, or abusive acts or practices when engaged in the collection of consumer debts.

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Troutman Sanders

NOVEMBER 1, 2021

Third, the CFPB released a new guidance document titled, “ Debt Collection Rule: Disclosing the Model Validation Notice Itemization Table ,” which reviews certain required validation information, includes examples, and illustrates how a debt collector could comply with the requirement to disclose that information.

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Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). Ray, CITE. “[A]s

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Troutman Sanders

JUNE 15, 2021

On June 8, California Attorney General Rob Bonta warned “financial institutions, creditors and debt collectors that it is illegal to seize federal Child Tax Credit payments for individual debts in California.”

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Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages. As part of S.

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Troutman Sanders

JANUARY 25, 2021

State Activities: On January 22, the Maryland Commissioner of Financial Regulation issued an emergency regulation that establishes procedures for remote work for employees of state-regulated entities, such as debt collectors, during the COVID-19 emergency. For more information, click here. For more information, click here.

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Troutman Sanders

JULY 26, 2021

On July 16, Massachusetts Attorney General Maura Healey issued guidance “to protect families [that] have begun receiving a federal child tax credit this week from debt collection practices.” Any attempt to garnish or otherwise seize these funds to collect or attempt to collect a debt violates the AG’s Debt Collection Regulations.”

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Troutman Sanders

AUGUST 31, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. The DCA has now extended this enforcement grace period until October 1, 2020. For more information, click here. On August 21, 2020, Illinois Governor J.B. The limitations are now in effect until September 19, 2020.

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Troutman Sanders

NOVEMBER 7, 2023

Participants acknowledged the importance of their partnership on financial innovation as a crucial part of U.S.-UK UK financial services cooperation and expressed a desire to continue discussing these topics ahead of the next meeting in 2024. For more information, click here. For more information, click here.

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