Account Recovery

JULY 6, 2022

The Connecticut Department of Banking has levied a $10,000 fine against a company for operating as a consumer collection agency in the state without obtaining the proper license. A copy of the ruling in the matter against Lockhart, Morris & Montgomery can be accessed by clicking here.

Collection Agencies 246

Collection Agencies Collections Agency Consumer Collections Banks 246

Account Recovery

JULY 19, 2022

CLASS-ACTION ACCUSES COLLECTOR OF VIOLATING FDCPA, FCCPA BY ADDING ‘ILLEGAL’ COLLECTION FEE A class-action lawsuit has been filed against a collection agency, accusing it of violating the Fair Debt Collection Practices Act and the Florida Consumer Collection Practices Act because it allegedly added an “illegal” collection fee that represented (..)

Fair Debt Collection 246

Fair Debt Collection Collection Agencies Collections Agency Consumer Collections 246

Account Recovery

DECEMBER 7, 2023

A collection operation has agreed to pay a $10,000 fine to the Connecticut Department of Banking for operating in the state without the proper license to collect. The Background: The company operated in Connecticut as a licensed consumer collection agency from 2010 through 2018, when its license expired.

Collections 130

Collections Collection Agencies Collections Agency Consumer Collections 130

Account Recovery

AUGUST 31, 2023

The Connecticut Department of Banking has reduced the fine against a law firm that was operating in the state without a consumer collection agency license to $20,000 from $100,000, largely on the basis that the law firm is no longer in business. A copy of the order with the Law Offices of David M. Katz […]

Law Firms 130

Law Firms Collections Collection Agencies Collections Agency 130

Account Recovery

OCTOBER 11, 2024

The plaintiff was seeking assistance with personal legal matters, and the attorney and his firm provided legal representation related to the FDCPA and the Florida Consumer Collection Protection Act.

Collections 130

Collections Fair Debt Collection Collection Agencies Collections Agency 130

Account Recovery

OCTOBER 9, 2023

A District Court judge in Illinois has denied a healthcare provider’s motion to dismiss a claim it violated the Illinois Consumer Fraud and Deceptive Business Practices Act (ICFA) and a collection agency’s motion to strike class allegations it violated the Fair Debt Collection Practices Act in a debt parking case on a medical debt.

Fair Debt Collection 130

Fair Debt Collection Healthcare Collection Agencies Collections Agency 130

American Profit Recovery

NOVEMBER 2, 2022

Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections. No consumer wants to be in debt and struggling to pay their bills. Consumers do not want to have their accounts sent to a collection agency.

Collections 130

Collections Collection Agencies Collections Agency Debt collector 130

Troutman Sanders

OCTOBER 10, 2023

The Commissioner alleged in the order that the firm had acted as a consumer collection agency in Connecticut without a consumer collection agency license, in violation of § 36a-801(a) of the Connecticut General Statutes. The firm had 14 days to request a hearing, but failed to do so.

Banks 52

Banks Collections Collection Agencies Collections Agency 52

Credit Management Company

JANUARY 25, 2022

Even when you try to send customer debt collection requests, they have fallen on black days. After speaking with colleagues, you were told about the possibility of commercial debt collection agencies taking over. This type of debt collection can be hard to understand at first. B2B Collection FDCPA and Regulations.

Commercial Collection 52

Commercial Collection Collections Collection Agencies Collections Agency 52

Enterprise Recovery

JULY 7, 2023

Agencies that collect from individuals will use different collection tactics and are subject to harsher regulations than those that collect from businesses. Often these agencies choose to separate consumer collections from commercial collections because the processes vary.

Commercial Collection 180

Commercial Collection Collections Consumer Collections Collection Agencies 180

FFGN COLLECT NY

DECEMBER 15, 2021

The Bureau educates, establishes and enforces rules, and has a compliance arm addressing debt collection as it relates to consumer collections. The CFPB regulates debt collection only as it relates to consumer debt. The CFPB handles enforcing violations of federal consumer laws related to debt collection.

Debt collector 98

Debt collector Collections Fair Debt Collection Collection Agencies 98

American Profit Recovery

APRIL 9, 2021

That company may determine that issuing credit to certain customers is not a good idea and they could pull back, which may not be attractive to certain consumers. Hiring a collection agency as a next move. Some restrictions can reduce credit to consumers. Collection laws and regulations are in place for a reason.

Consumer Credit 154

Consumer Credit Collections Debt collector Collection Agencies 154

Better Credit Blog

FEBRUARY 18, 2021

BYL Collections isn’t a household name, but it collects for several businesses across multiple industries. Based in Westchester, Pennsylvania, BYL is a third-party collections agency that was founded in 1998. The agency specializes in consumer collections, commercial collections, and medical device recovery.

Collections 52

Collections Debt collector Collection Agencies Collections Agency 52

Consumer Financial Services Law

MARCH 22, 2021

Because the Rule now addresses communications regarding dead consumers, it’s important to review skip trace policies and ensure policies are in place which will provide the debt collector with ample information as to the deceased consumer’s estate. See Comment 10(b)(2)-1.

Debt collector 40

Debt collector Collection Agencies Collections Agency Collections 40

Troutman Sanders

MAY 24, 2022

(SoLo) for allegedly engaging in unfair, deceptive, and abusive acts and practices (UDAAPs) in violation of the Consumer Financial Protection Act of 2010, as well as for operating in Connecticut without a small loan company license or a consumer collection agency license.

Lender 52

Lender Loans Collection Agencies Collections Agency 52

Katabat

DECEMBER 2, 2019

SoFi will leverage Katabat’s industry-leading Restore collections platform, to deliver an omnichannel experience for consumer collections. WILMINGTON, Del., 3, 2019 – Katabat, a leading global supplier of debt management software solutions, today announced that SoFi, a leading personal finance company in the U.S.,

Personal loans 78

Personal loans Loans Collections Debt Management 78

Burr Forman

DECEMBER 4, 2020

Connecticut – On March 9, 2020, the Department of Banking issued a no action memorandum stating the department would not enforce provisions against working from home for licensed entities, including consumer collection agencies and other financial institutions, until December 31, 2020.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

JULY 7, 2021

The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here.

Financial services 52

Financial services Financial Institution Student Loans Student loans 52

Jimerson Firm

JANUARY 16, 2023

The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. Accredited Collection Agency Inc. , No. Florida’s Consumer Collection Practices Act (FCCPA) Part 1: Understanding the FCCPA (jimersonfirm.com) .

Garnishment 52

Garnishment Foreclosure Banks Consumer Collections 52

FDCPA Defense

AUGUST 16, 2012

If you are a collection professional working for a creditor, debt buyer, collection agency or collection law firm, and you have not yet added the website for the Consumer Financial Protection Bureau (CFPB) to the favorites on your web browser, it is high time that you do so.

Collections 40

Collections Fair Debt Collection Law Firms Banks 40

FDCPA Defense

FEBRUARY 20, 2012

The CFPB claims to have the right to obtain privileged documents from all “supervised institutions” as well as from any “service provider” (such as a law firm or collection agency) who performs material services for a supervised institution. The answer may depend on who you ask.

Debt collector 40

Debt collector Law Firms Lawyers Collections 40

Troutman Sanders

AUGUST 2, 2021

On July 15, the Connecticut Department of Banking fined a collection agency, after finding it had allegedly operated without proper licensing for about seven years. As part of the application process, the state conducted an investigation into the agency’s activities, which led to the Department of Banking’s finding.

Financial services 52

Financial services Foreclosure Student Loans Student loans 52

Troutman Sanders

JUNE 28, 2021

On June 25, multiple collection agencies and other plaintiffs filed suit in the U.S. On June 7, the Connecticut Department of Banking assessed fines against a collection agency for operating in the state without a license. For more information on the new law, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Collection Agencies Collections Agency 52