Account Recovery

OCTOBER 16, 2024

A District Court judge in Washington has denied a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act class-action case over alleged “junk” fees, ruling that the plaintiffs adequately pleaded plausible claims under the FDCPA and related state consumer protection laws. What makes this case even more interesting is that the Consumer Financial Protection Bureau has filed its own amicus brief in favor of the plaintiffs.

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Consumer Finance

OCTOBER 16, 2024

Today, the CFPB sued student lender Climb Credit and 1/0 (“one zero”) for misrepresenting the quality of the programs at their partner schools and making false claims about graduates’ outcomes.

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Account Recovery

OCTOBER 16, 2024

The Consumer Financial Protection Bureau and the Department of Justice yesterday announced a settlement with Fairway Independent Mortgage Corp. over allegations that the company engaged in redlining by discriminating against minority borrowers in Birmingham, Ala. The settlement, which could total over $9 million, includes both penalties and funds aimed at increasing access to mortgage loans for these historically underserved communities.

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Consumer Finance

OCTOBER 16, 2024

CFPB Associate Director Julie Margetta Morgan delivered remarks at the HealthWatch Wisconsin Medical Debt Symposium.

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Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

TCPA

OCTOBER 16, 2024

Depending on whether youre a glass-half-full or glass-half-empty kind of person, plaintiff and defendant both won or both lost when a judge in the Northern District of Illinois recently denied in one fell swoop both the defendants motion for summary judgment and the plaintiffs motion for class certification. Murtoff v.

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Collection Industry News

OCTOBER 16, 2024

NEW YORK, Oct 28 (Reuters) – The Treasury Department may offer fresh guidance on expected increases in its 2025 debt auctions when it announces its updated refunding plans this week, though uncertainty over the Nov. 5 U.S. elections likely means any details will be minimal. The U.S. government will issue overall borrowing estimates for the coming two quarters on Monday and provide more details on its auction sizes for the next quarter on Wednesday morning.

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Account Recovery

OCTOBER 16, 2024

A new survey of economists conducted by The Wall Street Journal shows increasing optimism about the U.S. economy, forecasting steady growth and a gradually cooling labor market. Nearly three-quarters of the economists that participated in the survey believe that a Trump win in November will likely lead to higher inflation, up from just over 50% in July.

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Account Recovery

OCTOBER 16, 2024

Judge Denies MJOP in FDCPA Class Action Over ‘Junk’ Fees More Economists Optimistic About Growth, Less Worried About Inflation Redlining Accusations Lead to $9M Enforcement Action for Lender 24 Companies Seeking Collection Talent WORTH NOTING: It’s an uncomfortable topic, but most of us will have to deal with it: How to prepare for the death of your parents … Tips to make the inside of your house look more expensive … You can have a say in choosing the next Tic Tac flavor ̷

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