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Compliance Digest – February 24

Account Recovery

The litigation relates to the Plaintiffs challenges of the CFPBs Final Rule, which involves the CFPBs prohibition on creditors and consumer reporting agencies concerning medical information. More details here. More details here. In an alarming trend, we are seeing more consumer actions being brought for abandoned litigation.

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Debtor Protections and Consumer Rights in New York: An Attorney’s Perspective

FFGN COLLECT NY

There are many ways to request debt verification, such as writing a request letter. The letter must detail the specific information you require, such as proof of agreement with the original creditor, a final account statement issued by the creditor, and a breakdown of the debt (due dates, interest rate, and principal amount).

Debtor 52
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Consumer bureau orders debt collection agency to shut down for illegal practices

Collection Industry News

The first action violated the Fair Credit Reporting Act and the second violated the Fair Debt Collection Practices Act, the bureau said.