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Washington AG Sues Agency for Not Including Required Disclosure in Letters

Account Recovery

The lawsuit emphasizes that Renton Collections’ actions were not only a violation of the Collection Agency Act but also the state’s Consumer Protection Act, as they misled consumers about their legal rights and failed to provide vital information.

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Suit Accuses Collector of Misinterpreting Refusal to Pay as Dispute

Account Recovery

The claims: The complaint accuses the defendant of violating Section 1692e(8) of the FDCPA by falsely reporting the debt as disputed when the plaintiff had “only exercised his [sic] legal right to refuse payment.” ” Read the complaint.

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CFPB Orders Remittance App Provider to Pay $3M for ‘Cheating’ Consumers

Account Recovery

The Consumer Financial Protection Bureau yesterday entered into a consent order with a fintech company that operates a remittance transfer app that will see the company pay $3 million in fines and refunds to customers after it was accused of forcing customers to waive their legal rights, failing to provide required disclosures, and failing to […] (..)

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What New Debt Collector Rules Mean for You

Nerd Wallet

adults with debt in collections, knowing their legal rights is crucial. Working with third-party debt collectors can be confusing and scary. For the more than 68 million U.S. The Fair Debt Collection Practices Act covers third-party debt collectors — those who buy a delinquent debt from an original creditor, like a credit card company.

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CFPB Vows Forbearance on Enforcing BNPL Rule

Account Recovery

Back in May, the CFPB announced that Buy Now, Pay Later companies must provide consumers with the same legal rights and protections that credit card lenders do. That included allowing consumers to demand refunds and dispute transactions. The CFPB indicated that more than 13% of BNPL transactions involved a return or dispute, and, $1.8

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CFPB Vows Forbearance on Enforcing BNPL Rule

Account Recovery

Back in May, the CFPB announced that Buy Now, Pay Later companies must provide consumers with the same legal rights and protections that credit card lenders do. That included allowing consumers to demand refunds and dispute transactions. The CFPB indicated that more than 13% of BNPL transactions involved a return or dispute, and, $1.8

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What Is a UCC Filing?

Nerd Wallet

A Uniform Commercial Code filing, also known as a UCC filing, is a document that lenders use to establish their legal right to assets that a borrower uses to secure a loan. This notice allows the lender to seize the borrower’s collateral in the case of default. UCC filings can cover a specific piece of. Email: rkriss@nerdwallet.com.