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Why the Police Shouldn’t Be Armed Debt Collectors

Collection Industry News

Reforms that address police violence against communities of color won’t be effective unless we reduce governments’ over-reliance on revenue from fines and court fees for minor offenses. But when governments rely on those revenues, people of color end up funding the police forces that routinely terrorize them.

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CFPB Issues Guidance to Protect Homeowners from Illegal Collection Tactics on Zombie Mortgages

Collection Industry News

. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The prohibition applies even if the debt collector does not know that the debt is time barred.

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Foreclosure Suit Without Request for Deficiency Judgment Is Not “Debt Collection” Under FDCPA, Ninth Circuit Holds

Collection Industry News

Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The borrower then filed an action in federal court, claiming that an assortment of alleged misrepresentations in the foreclosure case constituted violations of the FDCPA.

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Debt Collectors Are Thriving This Year – And Now They’re Filing Even More Suits

Collection Industry News

It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. The only people who would do this are debt collectors who have no ongoing relationship with someone.”

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The second debt collection rule clarifies disclosures debt collectors must provide to consumers at the beginning of collection communications.

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U.S. House Passes Comprehensive Debt Collection Improvement Act

Burr Forman

Overall, the CDCIA’s proposed changes to consumer finance laws tend to support pro-consumer policies and will require financial institutions, debt collectors, and loan servicers to re-evaluate their business practices if the bill is ultimately passed.

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Passage Of Debt Collection Bill Could Be A ‘Slippery Slope’ For Lenders

Collection Industry News

While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. Require debt collectors to obtain consent before using electronic communications and provide written validation notices.

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