Consumer Financial Services Law

NOVEMBER 19, 2019

On November 14, 2019, the House Committee on Financial Services passed the following bills which would amend the federal Fair Debt Collection Practices Act and tighten consumer protections. The Ending Debt Collection Harassment Act of 2019 (H.R. The Debt Collection Practices Harmonization Act (H.R.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? While falling behind on a payment or two might not seem like a big deal, collections-stage debt can do substantial damage to your credit. About Delivery Financial Services. How Delivery Financial Services Works.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Troutman Sanders

DECEMBER 20, 2022

On December 15, the Office of the Comptroller of the Currency, along with the Federal Financial Institutions Examination Council, released revised procedures for how its examiners will investigate financial institutions for Fair Debt Collection Practices Act compliance, incorporating Regulation F changes into their review.

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Troutman Sanders

APRIL 27, 2023

Consumer Financial Services Associate Jonathan Floyd focuses his practice on financial services litigation, representing clients in class actions and business disputes in both federal and state courts. Transcript: Recent Trends in Article III Standing (PDF)

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Troutman Sanders

OCTOBER 7, 2021

a Third Circuit district court granted summary judgment to the defendants in a Fair Debt Collection Practices Act (FDCPA) case. a debt buyer, retained defendant LTD Financial Services, L.P. LTD) to collect on the $4,528.59 In Bordeaux v. AA II, Inc.),

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Consumer Financial Services Law

MARCH 27, 2018

Dunn The House Financial Services Committee voted 35-25 on March 21, 2018 to advance H.R. Dunn practices in Smith Debnam's Consumer Financial Services Litigation and Compliance Group. By: Zachary K. 5082, officially known as the “Practice of Law Technical Clarification Act of 2018,” to the full House of Representatives.

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Troutman Sanders

FEBRUARY 6, 2023

The plaintiff filed a lawsuit against the defendant in the District Court for the Eastern District of Michigan, alleging violations of the Fair Debt Collection Practices Act (FDCPA), and other state statutory claims.

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Troutman Sanders

AUGUST 23, 2023

Finally, the order also includes a monetary judgment in the amount of $73,076,930, but only requires defendant Shapiro to pay $250,000. The remainder of the monetary judgment is suspended due to the defendants’ “financial situation.”

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Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , In her suit, the plaintiff alleged this statement was false, deceptive, or misleading in violation of FDCPA Section 1692e and that it was an unfair or unconscionable means to collect or attempt to collect any debt in violation of FDCPA Section 1692f. In Bordeaux v.

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Troutman Sanders

OCTOBER 20, 2023

It further assured the public that the award would be drawn from a reserve account maintained for adverse legal judgments — not from taxpayer funds. Drawing upon his experience as a deputy attorney general, Ashley has developed an extensive consumer practice with regard to the consumer financial services industry.

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Troutman Sanders

NOVEMBER 8, 2023

Last week, a district court in Nevada held that an undated, model form debt validation notice does not violate the Fair Debt Collection Practices Act (FDCPA). the defendant sent a debt validation letter to the plaintiff that followed the model form provided by the Consumer Financial Protection Bureau (CFPB).

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Burr Forman

MAY 20, 2021

2547 (the “Comprehensive Debt Collection Improvement Act” or “CDCIA”). Originally introduced by House Financial Services Chairwoman Maxine Waters, the CDCIA’s primary purpose is to provide additional financial protections for consumers and place restrictions on debt collection activities by amending several consumer finance statutes.

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Collection Industry News

MAY 18, 2021

The decision also clarified that businesses engaged in non-judicial foreclosure proceedings are not debt collectors under the FDCPA.

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Jimerson Firm

JANUARY 17, 2023

The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. is board certified in business litigation by the Florida Bar and practices in the firm’s banking and financial services industry team. Household Bank, Ltd. , 2d 509 (Fla.

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FFGN COLLECT NY

JANUARY 13, 2021

Judgment enforcement and more are conducted without state court scrutiny. New York’s liberal judgment enforcement policies allow attorneys’ offices to conduct almost all judgment enforcement activities. Federal, State, and Local Regulations for Consumer Debt. if frivolous and or inappropriate ), and more.

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Burr Forman

NOVEMBER 1, 2021

Preferred Collection and Management Services, Inc., In Hunstein , the Eleventh Circuit reversed the dismissal of a Fair Debt Collection Practices Act (“FDCPA”) lawsuit alleging that the Defendant, a debt collector, had violated third party disclosure prohibitions in the FDCPA by using a mail vendor to mail its dunning letters.

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Troutman Sanders

SEPTEMBER 6, 2023

District Court for the Western District of Washington, the plaintiff moved for partial summary judgment. After removal to the U.S. The defendant conceded that the stated interest calculations and rates were incorrect, but argued that the communications were not materially misleading, and invoked the bona fide error defense.

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Troutman Sanders

JULY 17, 2023

According to the FTC, the agency is empowered to enforce the provisions of the GLBA “in the same manner and with the same power and authority as the [FTC] has under the Fair Debt Collections Practices Act [FDCPA] ….” Further, the stipulated consent order holds Celsius liable for a $4.72

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Jimerson Firm

JULY 21, 2021

Nevertheless, there appears to be an increase in class action complaints alleging violations of consumer protection laws such as Fair Debt Collection Practices Act (FDCPA), Florida’s Consumer Collections Practices Act (FCCPA), Fair Credit Reporting Act (FCRA), or Telephone Consumer Protection Act (TCPA).

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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.

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Troutman Sanders

AUGUST 1, 2023

On July 27, the Financial Innovation and Technology for the 21st Century Act passed the House Committee on Agriculture. The bill previously passed the House Committee on Financial Services on July 26. The OAG initially filed the lawsuit in June 2021, and as part of the judgment, between $450,000 and $2.5

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Collection Industry News

MAY 18, 2021

Despite objections from CUNA and NAFCU, the House of Representatives passed the Comprehensive Debt Collection Improvement Act on Thursday. 2547 was sponsored by House Financial Services Committee Chairwoman Rep. The bill, H.R. Maxine Waters (D-Calif.), passed the House with a 215-207 vote.

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Troutman Sanders

FEBRUARY 24, 2022

Preferred Collection and Management Services Inc. Communications with the consumer’s attorney, a creditor or its attorney, the debt collector’s attorney, or a consumer reporting agency are permissible, as are certain communications with third parties to locate a consumer or those required by a court or court judgment.

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Consumer Financial Services Law

OCTOBER 31, 2021

Selection of an itemization date will necessarily require the debt collector have a clear understanding of how the creditor arrives at the balance and conversely, that the creditor understand that its balance needs to relate back to one of the five itemization dates. Section 1006.34(b) b)(3) (effective November 30, 2021).

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Consumer Financial Services Law

DECEMBER 30, 2020

The Sixth Circuit recently weighed in on whether there is a “benign language” exception to Section 1692f(8) of the Fair Debt Collection Practices Act (the “FDCPA”). In Donovan v. FirstCredit, Inc., 20-3485, 2020 U.S. LEXIS 39798 (6 th Cir.

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Better Credit Blog

FEBRUARY 19, 2021

DCM Services LLC primarily helps businesses collect on the delinquent accounts of the deceased by targeting their estates. They collect on debts in numerous industries, such as: Auto. Financial Services. Billing and customer service. Healthcare. Telecommunications. Inaccurate hard inquiries.

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Troutman Sanders

MAY 5, 2021

Communications with the consumer’s attorney, a creditor or its attorney, the debt collector’s attorney, or a consumer reporting agency are permissible, as are certain communications with third parties to locate a consumer or those required by a court or court judgment. ” Plaintiff’s Allegations. .”

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Better Credit Blog

NOVEMBER 23, 2020

collects on a wide range of debts from several industries, including: Education. Financial services. Medical debt. Commercial debt. When you fail to repay a debt, whether it’s a medical bill, student loan, or credit card balance, it eventually enters collections. Retail cards. Bank cards.

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Consumer Financial Services Law

SEPTEMBER 5, 2016

1692f(8), that an account number capable of revealing that a recipient was a debtor was a violation within the scope of the plain language of the Fair Debt Collection Practices Act. In Anenkova , the debt collector used a letter vendor to send a debt collection letter.

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BN Lawyers

MARCH 21, 2019

McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. On March 20, 2019, the United States Supreme Court issued its decision in Obduskey v. 1692 et seq.

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FDCPA Defense

SEPTEMBER 26, 2017

Unlike the Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692, et. seq. , (“FDCPA”), which, generally speaking, only applies to third party debt collectors, the Rosenthal Act broadly defines a “debt collector” to include persons or entities that collect on behalf of themselves or others. LLC , 53 F.

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Troutman Sanders

OCTOBER 20, 2023

Court of Appeals for the Third Circuit issued a decision rejecting a district court’s finding that the so-called informational injury doctrine established Article III standing for the named plaintiff and putative class in a class action brought under the Fair Debt Collection Practices Act (FDCPA).

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Jimerson Firm

JANUARY 12, 2023

The Clayton Court was asked to decide the question of “whether Florida’s offer of judgment statute is preempted by [the federal Fair Debt Collection Practices Act (“FDCPA”)].” is board certified in business litigation by the Florida Bar and practices in the firm’s banking and financial services industry team.

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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). 1692i(a)(2).

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Troutman Sanders

APRIL 26, 2021

House of Representatives passed seven bipartisan bills introduced by House Financial Services Committee members. On April 21, the Fair Debt Collection Practices for Servicemembers Act passed the House of Representatives under suspension of the rules. For more information, click here. On April 22, the U.S.

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Troutman Sanders

MAY 2, 2023

However, due to partisanship in the Senate, Senator Lummis believes her bill is unlikely to pass before the House Financial Service Committee’s bill is introduced. Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work.

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