Thu.Aug 10, 2023

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Judge Grants MTD in FDCPA Case Over Attempt to Collect on Time-Barred Debt

Account Recovery

The statute of limitations can be a tricky situation to navigate, if you are going to attempt to collect on a debt. But as long as you don’t make the individual believe that the debt is still legally enforceable, you’re on pretty solid ground.

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Crypto As “Funds” Under the EFTA – How a Court’s Recent Ruling May Impact Virtual Currency Platform Operators

Troutman Sanders

In this episode of The Crypto Exchange , Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Carlin McCrory and Addison Morgan to discuss a recent case in the Southern District of New York that has been in the news, Rider v. Uphold HQ. In Rider , the court concluded that virtual currency platform operators may be subject to the Electronic Fund Transfer Act (EFTA) and Regulation E.

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Bill Introduced in House to Amend FCRA by Removing Medical Debt, Shortening Adverse Reporting Period to 4 Years

Account Recovery

A bill has been introduced in the House of Representatives that reduce the amount of time that adverse information stays on consumers’ credit reports and prohibit any medical debt from being included on a credit report — among other provisions. A copy of the bill. H.R.

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Banks From Coast to Coast Urge CFPB to Stay Implementation of its Section 1071 Final Rule

Troutman Sanders

On August 8, bankers associations from all 50 states sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to stay enforcement and implementation of the small business data collection and reporting final rule under § 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule) for all covered financial institutions until after the U.S.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

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Political Battle Brewing Over CFPB Funding Case

Account Recovery

A partisan fight is brewing in Washington, D.C., after a liberal advocacy group released a report yesterday detailing how the Consumer Financial Protection Bureau has returned more than $240 million to consumers in 10 specific states — which are all home to Republicans seeking to “defund and defang” the Bureau. Rep. Bill Huizenga [R-Mich.