National Service Bureau

APRIL 15, 2015

Last week we wrote about 2014 CFPB complaints against debt collection agencies. Disclosures can be verbal on first contact with the debtor or via written notice submitted within five days of that first contact. The CFPB recorded 5,567 complaints in 2014 based on improper communication tactics. 2,333 complaints in 2014. #4:

Collection Agencies 40

Collection Agencies Collections Agency Collections Credit Card Collections 40

FDCPA Defense

MAY 6, 2014

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. at § 1681s-2(a)(7)(D).

Creditworthiness 40

Creditworthiness Debtor Debt collector Consumer Credit 40

Consumer Financial Services Law

APRIL 22, 2021

Scattered throughout the Rule like little nuggets of gold, the CFPB has provided safe harbors which, when coupled with the bona fide error defense, should allow savvy debt collectors to better take advantage of the bona fide error defense. Section 1006.34

Debt collector 52

Debt collector Collections Creditors Debtor 52

Fico Collections

JANUARY 26, 2022

Our most popular posts in this category last year dealt with valuable disciplines, collections predictions, multi-channel vs. omnichannel communications, collections optimization and digital-first collections approaches for the COVID-19 period. More Digital Communication.

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Collections Student loans Student Loans Government 52