Account Recovery

JANUARY 6, 2022

A company that made cash advances to small businesses has reached a settlement with the Federal Trade Commission that will see the defendants pay $675,000 while also being permanently banned from participating in any debt collection activities.

Collections 246

Collections Trade Judgment 246

Account Recovery

OCTOBER 8, 2021

The Federal Trade Commission announced yesterday that it is returning nearly $800,000 to consumers who were victimized by Hylan Asset Management and its owners, which collected $24 million during the four years it was allegedly buying and selling fake debt portfolios.

Collections 246

Collections Trade 246

Account Recovery

SEPTEMBER 30, 2020

FTC ANNOUNCES NEW CRACKDOWN ON ABUSIVE COLLECTION PRACTICES The Federal Trade Commission yesterday announced the launch of Operation Corrupt Collector, a “crackdown” on collection operations that engage in abusive or harassing practices while also attempting to collect on debts that do not exist.

Collections 246

Collections Trade 246

Fico Collections

MARCH 17, 2021

Trade-based money laundering (TBML) is a growing risk, as seemingly legitimate transactions are exploited by criminal groups to launder funds and finance terrorist activity. However to set a context, we must first answer the question – what is trade-based money laundering? Efforts to Combat Trade-Based Money Laundering”.

Trade 98

Trade Government 98

Collection Industry News

JULY 21, 2024

Queensland-based debt collection company Panthera Finance, which operates nationwide, was prohibited from operating in Victoria after it was penalised for harassing people over disputed debts. People in these situations can be very vulnerable to poor debt collection practices,” she said. “We Panthera has been approached for comment.

Debt collector 40

Debt collector Trade Collection Companies Collections 40

Account Recovery

APRIL 4, 2024

A bill has been introduced in the Colorado legislature that would make it an unfair or deceptive trade practice for a debt collector or collection agency to take any legal action on a debt unless it has purchased complete ownership or the debt. The bill is an attempt to reform the hospital and healthcare industry […]

Healthcare 130

Healthcare Debt collector Collections Collection Agencies 130

Account Recovery

AUGUST 28, 2020

A District Court judge in South Carolina has lifted the seal on two complaints filed by the Federal Trade Commission against debt collection operations that are accused of violating the Fair Debt Collection Practices Act by allegedly convincing unsuspecting individuals that lawsuits have been, or will soon be, filed against them if they do not … (..)

Fair Debt Collection 246

Fair Debt Collection Collections Trade 246

Fico Collections

MARCH 24, 2021

In part 1 of the series on trade-based money laundering (TBML) , we established a definition of the term, explored some recent studies and highlighted some typical techniques employed by the criminals. must report potentially suspicious activity (including trade-related transactions) to FinCEN. Financial institutions in the U.S.

Trade 98

Trade Financial Institution Banks Education 98

Account Recovery

APRIL 22, 2021

The Federal Trade Commission yesterday announced it is returning more than $4 million to 10,000 individuals who were scammed by a debt collector more than five years ago.

Collections 200

Collections Debt collector Trade 200

Account Recovery

JANUARY 27, 2023

A bill is being circulated in the Colorado legislature — which is also backed by the state’s Attorney General — that would cap the interest rate on medical debt, establish requirements on medical debt payment plans, and make violations of surprise or balance billing laws a deceptive trade practice, among other provisions.

Collections 130

Collections Trade Healthcare 130

Account Recovery

OCTOBER 19, 2023

A collection “kingpin” who has been sued by the Consumer Financial Protection Bureau and the Attorney General of New York for hiding assets in order to avoid paying a $60 million judgment is now being accused of destroying evidence by trading in his cell phone for a new one, which got […] New phone, who dis?

Collections 113

Collections Trade Judgment 113

Account Recovery

JUNE 6, 2023

AMSTERDAM, June 6, 2023 — Atradius Collections has acquired Pro Kolekt group and expanded its presence to 40 countries in line with their mission to support their customers growth, wherever they trade in the world, by delivering local expertise in receivables management.

Acquisition 130

Acquisition Collections Trade 130

Account Recovery

APRIL 27, 2023

The post Enforcement Action Bans Pair From Collection Industry appeared first on AccountsRecovery.net.

Collections 130

Collections Trade 130

Account Recovery

NOVEMBER 16, 2021

Judge Denies Plaintiff’s Motion to Remand FDCPA Case; Bank Settles Collection Call Lawsuit For $3.5M appeared first on AccountsRecovery.net.

Banks 240

Banks Fair Debt Collection Debt collector Collections 240

Account Recovery

AUGUST 21, 2024

Judge Grants MSJ for Defendant in FDCPA Case Over Refusal to Speak to Represented Plaintiff Collection Bills Advancing Through California Legislature Debit Cards Dominate Digital Wallets as Consumers Prioritize Spending Discipline 22 Companies Seeking Collection Talent WORTH NOTING: The summer of 2024 doesn’t have one top song; it has two … (..)

Collections 130

Collections Trade 130

Collection Industry News

JUNE 5, 2022

The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups.

Credit Unions 75

Credit Unions Credit Unions Trade Financial Institution 75

Nexa Collect

JUNE 21, 2023

Debt collection agencies are subject to various data security rules and regulations to protect consumer information. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal information.

Collection Agencies 130

Collection Agencies Collections Agency Collections Financial Institution 130

Account Recovery

NOVEMBER 30, 2020

A $24 million judgment has been entered against a collection agency and one of the agency’s co-owners has been ordered to divest himself of his ownership stake in the company that purchased the collection agency in question after it was accused by the Federal Trade Commission of collecting on “phantom” payday loans, “purported” (..)

Collection Agencies 147

Collection Agencies Collections Agency Judgment Collections 147

UK debt collections

APRIL 28, 2021

Three Directors of a Finance firm have been banned for trading whilst insolvent. Independent Derivative Traders Ltd traded as Futex. They provided access to a financial markets trading platform for sub contracted independent traders in the UK. It became apparent that the company was not able to meet its liabilities.

Trade 72

Trade Bankruptcy Creditors Government 72

Troutman Sanders

JANUARY 17, 2024

Late last month, the Revenue Based Finance Coalition (RBFC), a trade group of sales-based financing providers, filed a complaint in the U.S. As discussed here , § 1071 amended the Equal Credit Opportunity Act (ECOA) to impose significant data collection and reporting requirements on small business creditors.

Trade 52

Trade Creditors Debtor Financial services 52

Account Recovery

DECEMBER 11, 2023

Since then, there have been a number of petitions filed by consumer advocacy organizations, trade groups, and ordinary people. In early 2022, the Consumer Financial Protection Bureau announced that anyone would be able to submit a petition for rulemaking.

Trade 147

Trade Collections 147

Troutman Sanders

SEPTEMBER 5, 2023

The current situation … poses serious compliance challenges for the membership of the Trades, as institutions that are identically subject to the [Final] Rule are now effectively subject to different compliance and implementation dates. CFPB injunction and those that are not covered.

Trade 52

Trade Credit Unions Credit Unions Financial Institution 52

Nexa Collect

JUNE 19, 2020

These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner. Need a collections agency for your business: Contact us. Written Notices sent by a Collection Agency.

Collection Agencies 130

Collection Agencies Collections Agency Collections Debt collector 130

FFGN COLLECT NY

OCTOBER 11, 2024

Properly naming a non-paying client is of the utmost importance in New York debt collection. Similarly, if you are dealing with a company that uses a trade name, it is very important to find out the legal name of the company before filing suit. Yet, many companies do not always register their trade names. Parsons the individual.

Collections 52

Collections Trade Judgment 52

Fico Collections

FEBRUARY 9, 2021

In June this year, the FATF released their report on, ‘ Money Laundering and the Illegal Wildlife Trade’. Although the market pales compared to the vast sums moved in the drug space, it’s still the 4thmost lucrative trade. Trade routes are as global as those for any other illicit trade.

Trade 52

Trade Banks Financial services 52

Account Recovery

OCTOBER 1, 2020

On Monday September 29, 2020, the Federal Trade Commission (FTC) along with State and Federal Law Enforcement Partners announced, Operation Corrupt Collector, a nationwide law enforcement and outreach initiative to protect consumers from phantom debt collection and abusive and threatening debt collection practices.

Collections 147

Collections Debt collector Trade 147

Account Recovery

AUGUST 23, 2023

The Federal Trade Commission on Monday announced it had sued and obtained a temporary restraining order against a number of corporate and individual defendants accused of pretending to be affiliated with the Department of Education so that they could market student loan forgiveness programs that made false promises and collected millions in illegal (..)

Student Loans 246

Student Loans Student loans Loans Education 246

Account Recovery

APRIL 19, 2022

The Federal Trade Commission provided $4.86 million in refunds to individuals who were victimized in debt collection scams last year, the regulator noted in a summary it sent to the Consumer Financial Protection Bureau regarding its enforcement of the Fair Debt Collection Practices Act.

Fair Debt Collection 246

Fair Debt Collection Trade Collections 246

Account Recovery

FEBRUARY 8, 2024

The Federal Trade Commission has reached a settlement with the a group of companies and the individuals behind them that were accused of violating the Telemarketing Sales Rule, the Gramm-Leach-Bliley Act, and the Federal Trade Commission Act by marketing student loan forgiveness programs that made false promises and collected millions in illegal upfront (..)

Student Loans 130

Student Loans Student loans Loans Trade 130

Account Recovery

OCTOBER 20, 2021

Debt collection, student loan debt relief, payday loans, and government impersonators are just a few of the categories highlighted in a Federal Trade Commission report that analyzes the regulator’s effort at addressing fraud and consumer issues that are affecting communities of color, which was released earlier this week.

Student Loans 246

Student Loans Student loans Trade Government 246

Collection Industry News

SEPTEMBER 17, 2024

The Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) with its annual summary of activities to protect consumers in the debt collection arena. The Federal Trade Commission works to promote competition and protect and educate consumers.

Collections 40

Collections Education Trade Debt collector 40

Collection Industry News

NOVEMBER 25, 2024

The Federal Trade Commission is taking action against a Georgia-based debt collector that tricked consumers into paying more than $7.6 This action should send a clear message that illegal collection practices will come with heavy consequences.” The Federal Trade Commission works to promote competition and protect and educate consumers.

Debt collector 40

Debt collector Collections Fair Debt Collection Garnishment 40

Account Recovery

DECEMBER 14, 2021

The remaining defendants in a lawsuit filed by the Federal Trade Commission have reached a settlement, under which they will be permanently banned from participating in the collection industry as well as surrender funds in a number of bank accounts and the title to a Mercedes as part of a $12 million judgment that has … The post Collectors Banned (..)

Trade 245

Trade Judgment Banks Collections 245

Account Recovery

NOVEMBER 30, 2020

FTC Secures $24M Judgment Against Collection Agency; Appeals Court Affirms Ruling in FDCPA Class Actio appeared first on AccountsRecovery.net.

Collection Agencies 147

Collection Agencies Collections Agency Judgment Collections 147

Troutman Sanders

AUGUST 15, 2023

This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.

Credit Unions 52

Credit Unions Credit Unions Trade Financial Institution 52

CSA

DECEMBER 13, 2021

Credit Services Association (CSA), the UK trade body for the collections and debt purchase sector and Approved Apprenticeship Training Provider, is delighted to have been shortlisted in the Skills Development category at the Trade Association Forum (TAF) Best Practice Awards 2022. CSA won the ?Skill Skill Development?

Trade 40

Trade Collections 40

Burt and Associates

SEPTEMBER 23, 2024

The Fair Debt Collection Practices Act ( FDCPA ) is a cornerstone of consumer protection laws in the United States. Short title The FDCPA ,  officially titled the  Fair Debt Collection Practices Act , establishes the law regulating debt collection practices across the U.S.

Fair Debt Collection 52

Fair Debt Collection Debt collector Collections Debt Recovery 52