Credit Corp

NOVEMBER 9, 2020

It applies to only external or third-party debt collectors and only for personal debts. It does not come into play for creditors collecting their own debts. In 2019, the FTC received 75,200 complaints about debt collectors —down from 84,500 in 2018. Collectors also may not call before 8 a.m.

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Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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Troutman Sanders

DECEMBER 21, 2021

State Activities: On December 15, the New York Department of Financial Services released a notice of proposed rulemaking (NPRM) for third-party debt collectors and debt buyers. For more information, click here. Public comments are now available and are due by Feb. For a four-person household, the limit is $26,500.

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Troutman Sanders

MARCH 21, 2023

On March 8, the Federal Trade Commission issued a bulletin, addressing the connections between cryptocurrency scams and community groups, and how consumers may identify such scams. For more information, click here. For more information, click here. Supreme Court’s Howey Test. For more information, click here.

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Troutman Sanders

OCTOBER 9, 2023

On October 4, the Federal Trade Commission (FTC) held a roundtable to discuss the impact of artificial intelligence on creative fields. The New York City Department of Consumer and Work Protection (DCWP) recently issued a notice of public hearing and opportunity to comment on its proposed amendments to its rules relating to debt collectors.

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Troutman Sanders

DECEMBER 27, 2021

On December 22, the Federal Trade Commission (FTC) gave final approval to a settlement with a mortgage industry data analytics firm that will require the company to bolster its data security protections and oversight of its vendors to ensure third-party providers also comply with those safeguards.

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