Troutman Sanders

OCTOBER 28, 2020

Mario Barboza was a resident of Collin County, Texas when Pharia, LLC, successor in interest to defendant Pallida LLC, filed a collections action in 2010 in Denton County, Texas to recover the balance due on Barboza’s credit card. In early 2011, a default judgment was obtained against Barboza. Barboza), thus 1692i(a) did not apply.

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Better Credit Blog

APRIL 1, 2022

If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. Credit Collection Services, known as CCS for short, is one of the largest debt collection agencies in the United States, based in Massachusetts.

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Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post-collection stage.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. How Portfolio Recovery Associates Works.

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Troutman Sanders

MARCH 11, 2024

On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry. The SEC alleged that Shapeshift violated Section 15(a) of the Securities Exchange Act of 1934 by facilitating trades in crypto assets without registration.

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Stevens Lloyd

JULY 30, 2018

However, the trade gap between international countries and the United States has been bridged. Due to the increased level of import-export trade between the U.S. trades with, the United Kingdom has one of the lowest import/export ratios of indebtedness. The roles played by Credit Bureaus and collection agencies.

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National Service Bureau

AUGUST 19, 2015

Like any industry, the debt collection and accounts receivable management industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. Or no legitimate debt buyer? How can something like this happen?

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Sawin & Shea

JUNE 9, 2021

You may feel as if no one is on your side, but you do have some protection from collection agencies. The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. The FTC makes sure that the FDCPA (Fair Debt Consumer Protection Act) is followed by collection agencies.

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Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. Your rights come from the Fair Debt Collection Practices Act (FDCPA). This act lays out the rules debt collectors must follow when they attempt to collect a debt from you.

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Troutman Sanders

MARCH 22, 2021

In recent days, many financial industry trade associations in dialogue with the CFPB have said they want to work with consumers struggling in the pandemic. The bill also would require such payments to be encoded, and would extend other restrictions on collection of such funds. ” For more information, click here.

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Troutman Sanders

NOVEMBER 13, 2023

On November 7, the Commodity Futures Trading Commission (CFTC) announced that, in 2023 alone, the cumulative penalty amount stemming from consent orders it entered with digital asset-based companies totaled $4.3 For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

SEPTEMBER 29, 2020

On September 16, the Department of Veterans Affairs (VA) announced that individuals affected by natural disasters — such as the wildfires in California and Oregon or hurricanes in the Southeast — can receive a 90-day suspension of debt collection efforts to give them time to get back on their feet. For more information, click here.

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Sawin & Shea

FEBRUARY 2, 2022

If a creditor does not want to participate, they can still pursue you in all the ways allowed by law including lawsuits and wage garnishments. When you stop making payments and default, your account will be sent to a collection agency that may be willing to offer you a settlement that is less than what you actually owe.

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Troutman Sanders

DECEMBER 20, 2022

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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Troutman Sanders

MAY 23, 2023

Earlier this month, the Federal Trade Commission (FTC) modified its Telemarketing Sales Rule (TSR) guidance webpage to clarify the requirements for obtaining consent to deliver calls with prerecorded messages and the elements of assisting and facilitating liability. For more information, click here. The law will take effect October 1.

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Troutman Sanders

AUGUST 9, 2021

s emergency debt collection bill. On August 2, the Supreme Court of the State of New Mexico ordered the gradual lifting of the stay of writs of garnishment and execution in consumer debt collection cases. For more information, click here. On August 3, the Washington, D.C. For more information, click here.

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Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. For more information, click here.

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Troutman Sanders

NOVEMBER 24, 2020

Federal Trade Commission (FTC) sent a warning letter to a financial aid company based in New York as part of its effort to monitor the marketplace for questionable claims arising from the COVID-19 pandemic. On November 16, the Federal Trade Commission (FTC) issued its Fiscal Year 2020 Agency Financial Report. On November 16, the U.S.

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Troutman Sanders

OCTOBER 26, 2020

The task force also adopted an updated report on trade-based money laundering and recognized progress by a number of jurisdictions. The current recordkeeping and travel regulations of the Bank Secrecy Act mandate that banks collect, retain, and transmit information on fund transfers of more than $3,000 occurring outside the U.S.

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Troutman Sanders

MARCH 29, 2021

On March 23, Representatives Steve Cohen, Suzanne Bonamici, and Alexandria Ocasio-Cortez introduced the Fair Debt Collection Improvement Act that would prohibit debt collectors from collecting or attempting to collect debt from consumers after a statute of limitation expires. For more information, click here.

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Troutman Sanders

JULY 7, 2021

The plaintiffs, who include landlords and real estate trade associations from Alabama and Georgia, argue that the CDC exceeded its authority by imposing the ban. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here. On June 29, the U.S.

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Troutman Sanders

FEBRUARY 8, 2021

Uejio said he was directing CFPB’s Division of Research, Markets, and Regulations to “explore options for preserving the status quo with respect to [the qualified mortgage rule] and debt collection rules.” The debt collection rule is currently scheduled to go into effect on November 30, 2021. For more information, click here.

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Troutman Sanders

APRIL 19, 2021

Federal Activities: On April 19, the Consumer Financial Protection Bureau (CFPB) announced that the 30-day comment period on the CFPB’s proposal to delay the effective date of Regulation F, its Debt Collection Rule, is open. The third requirement involves license-specific requirements. For more information, click here.

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Collection Industry News

JUNE 14, 2021

Welcome to the world of illegal debt collections. Here are snapshots of some cases against debt collectors that the State Attorney General’s Office, Federal Trade Commission and other law enforcement agencies have pursued in the past decade. Bella was also permanently banned from the debt collection industry. Assistant U.S.

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Troutman Sanders

APRIL 5, 2021

Department of Education announced an expansion of the moratorium on federal student loan interest and collections on all defaulted loans under the Federal Family Education Loan program. On March 24, New York Attorney General Letitia James released guidance regarding exemption of American Rescue Plan Act stimulus funds from garnishment.

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Troutman Sanders

NOVEMBER 8, 2022

On October 31, the Federal Trade Commission announced that it is taking action against an education technology provider for its lax data security practices that exposed sensitive information about millions of its customers and employees, including Social Security numbers, email addresses, and passwords. For more information, click here.

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Troutman Sanders

MARCH 4, 2024

State Activities: On February 28, New York AG Letitia James (D) announced that her office secured more than $650,000 from a debt collection law firm and its subsidiary for filing allegedly frivolous lawsuits and “harming … New Yorkers.” s Municipal Regulations.

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Troutman Sanders

JANUARY 19, 2021

Chopra is currently a chairman on the Federal Trade Commission. State Activities: On January 13, the Colorado legislature introduced a bill extending the moratorium on certain collection actions filed in the state until June 1, 2021. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

NOVEMBER 1, 2021

On October 29, the Federal Trade Commission (FTC) issued a new enforcement policy statement, warning companies against deploying illegal dark patterns that trick or trap consumers into subscription services. Collectively, the companies allegedly withheld $4.4 For more information, click here. For more information, click here.

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Troutman Sanders

DECEMBER 5, 2022

On November 30, the Federal Trade Commission (FTC) announced that it has temporarily shut down a credit card debt relief program and its affiliated companies that allegedly took millions from consumers by falsely promising to eliminate or substantially reduce their credit card debt. To read Emmer’s letter, click here. Kathy Hochul signed S.6522A/A.7363A

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Troutman Sanders

JANUARY 25, 2021

The president is expected to nominate Rohit Chopra, currently a commissioner of the Federal Trade Commission, to serve as the next CFPB director. On January 21, Colorado Governor Jared Polis signed SB21-002 into law, which extends the moratorium on certain collection actions, such as garnishment, attachment, or levy, until June 1, 2021.

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Troutman Sanders

MARCH 15, 2021

The NFID emphasized that it may not extend this guidance past May, so “it is imperative that the collection agency begin making plans to ensure it can both comply with Nevada law and the laws of the other jurisdictions it does business in.” For more information click here. On March 5, Illinois Governor J.B.

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Troutman Sanders

AUGUST 3, 2020

On July 29, 2020, Senators Chris Van Hollen and Chris Murphy introduced the COVID-19 Medical Debt Collection Relief Act, S.4350, This bill would prevent healthcare providers from taking “extraordinary” collection actions for up to 18 months after the bill becomes law as a means of protecting consumers during the coronavirus pandemic.

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Troutman Sanders

AUGUST 31, 2020

State Activities: On August 26, 2020, the New York City Department of Consumer Affairs (DCA) issued new debt collection rules related to limited English proficiency servicing, which took effect June 27, 2020. Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions.

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Troutman Sanders

JANUARY 31, 2022

The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records. On January 27, the CFPB released its annual list of consumer reporting companies. For more information, click here.

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Troutman Sanders

JUNE 22, 2021

For more information on the report and the background on HDMA data collection, reporting, and disclosure processes, click here. Preferred Collection and Management Services, Inc. For example, IBM is working on a digital ID with New York state that would collect vaccine status, driver’s licenses, and other personal records.

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