Account Recovery

JANUARY 29, 2025

Andersen’s illustrious career spans over three decades, during which she established herself as a leading authority on compliance within the collections, debt purchasing, and financial services industries. She remains a source of industry and compliance information for the Consumer Financial Protection Bureau.

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Account Recovery

SEPTEMBER 16, 2022

A District Court judge in New Jersey has granted a defendant’s motion to dismiss, ruling that a discount offer conveyed in a collection letter did not overshadow the plaintiff’s right to dispute the debt nor did offering multiple discount offers constitute a deceptive or misleading violation of the Fair Debt Collection Practices Act.

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Account Recovery

JULY 12, 2022

A District Court judge in New York has granted a defendant’s motion to dismiss in a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing to file claims that the defendant violated the statute’s third-party disclosure provisions by using a third party to print and mail a collection letter.

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Account Recovery

SEPTEMBER 29, 2021

In a case that was defended by Rick Perr of Kaufman Dolowich & Voluck, a District Court judge in New Jersey has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act class-action lawsuit over the 1099C language in a collection letter, ruling that the disclosure used was not a false, … The post Judge (..)

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Better Credit Blog

NOVEMBER 2, 2020

Then you may start to hear from a company called Action Financial Services. Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. What’s worse is that Action Financial Services’ entry can be viewed by potential lenders down the line.

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Account Recovery

APRIL 19, 2024

The Court of Appeals for the Third Circuit has upheld a summary judgment ruling in favor of the defendants in a Fair Debt Collection Practices Act case, ruling that the plaintiff’s claims were outside the FDCPA’s one year statute of limitations and his attempt to request verification of the debt “was untimely by many years.”

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? While falling behind on a payment or two might not seem like a big deal, collections-stage debt can do substantial damage to your credit. About Delivery Financial Services. How Delivery Financial Services Works.

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Account Recovery

JANUARY 20, 2025

Judge Grants MTD in FDCPA Case Over ID Theft A District Court judge in Illinois has granted a defendants motion to dismiss a Fair Debt Collection Practices Act case, ruling the plaintiff lacked standing after alleging violations related to a disputed debt originating from identity theft. More details here.

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Account Recovery

MARCH 28, 2024

A District Court judge in Connecticut has denied a defendant’s motion for judgment on the pleadings, ruling the debt in question does meet the Fair Debt Collection Practice Act’s definition of a debt and that the suit should proceed. The definition seems to change by the day.

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Account Recovery

APRIL 10, 2024

A District Court judge in Illinois has denied competing motions for sanctions against the attorneys representing the plaintiff and the defendant in a Fair Debt Collection Practices Act case after the plaintiff’s attorney purportedly continued to prosecute the case after it became clear the plaintiff lacked standing and because the defendant’s (..)

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Troutman Sanders

MARCH 15, 2021

Madeleine Dean (D-PA) introduced a bill, the Fair Debt Collection Practices for Servicemembers Act (H.R. 1491), proposing to amend two sections of the Fair Debt Collection Practices Act (FDCPA or the Act) — namely Section 805 of the FDCPA (15 U.S.C. On March 2, Rep.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Account Recovery

JUNE 15, 2023

A District Court judge has partially granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case and dismissed the complaint because the plaintiff lacked standing to sue, but gave the plaintiff — who raised new issues of why he has standing at the wrong time — an opportunity to file […]

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Account Recovery

OCTOBER 11, 2023

A District Court judge in Pennsylvania has imposed sanctions against a pro se serial litigant and ordered him to pay nearly $9,000 in legal fees to the defendant’s attorneys in a Fair Debt Collection Practices Act case, ruling that the plaintiff’s “lack of candor” in attempting to relitigate issues already decided against him (..)

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Account Recovery

SEPTEMBER 25, 2023

A District Court judge in New York has granted a defendant’s motion to dismiss on most of the claims that it violated the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Truth-in-Lending Act, but denied it on one FDCPA because the defendant purportedly did not properly respond to a verification request […]

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Better Credit Blog

SEPTEMBER 9, 2020

Have you noticed a company called Phoenix Financial Services on your credit report? If you have, this has probably been accompanied by calls from them to collect on a debt. This is because collection accounts on your credit report can have a significant impact on your score for up to seven years.

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Better Credit Blog

AUGUST 22, 2020

If you have an unpaid medical bill, you may begin to hear from a debt collector known as CMRE Financial Services. CMRE Financial Services is a collection agency that collects medical debts on behalf of hospitals and other healthcare businesses. What is CMRE Financial Services?

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Consumer Financial Services Law

NOVEMBER 19, 2019

On November 14, 2019, the House Committee on Financial Services passed the following bills which would amend the federal Fair Debt Collection Practices Act and tighten consumer protections. The Ending Debt Collection Harassment Act of 2019 (H.R.

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Account Recovery

AUGUST 30, 2024

” The background: The plaintiff received a call from the defendant last May at 3:29pm.

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Troutman Sanders

JANUARY 3, 2023

On December 28, 2022 the New York Department of Financial Services (DFS) released its revised proposed amendments to 23 NYCRR 1 — the state’s debt collection regulation. For more information, click here.

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Troutman Sanders

AUGUST 1, 2023

On July 27, the Financial Innovation and Technology for the 21st Century Act passed the House Committee on Agriculture. The bill previously passed the House Committee on Financial Services on July 26. Next, the Senate and House will need to reach a compromise between their versions of the bill. The amendment, led by U.S.

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Fico Collections

DECEMBER 20, 2021

It’s the time of year for predictions, and with the insights gained from 2021, I am ready to offer a few public policy forecasts for those in the financial services industry. Preferred Collection and Management Services, Inc. Open Banking Begins to Take Off in the U.S. with New Rules Promulgated by the CFPB.

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Troutman Sanders

MAY 10, 2021

On May 6, the House of Representatives indicated that it plans to vote on eight bills, collectively referred to as the Comprehensive Debt Collection Improvement Act. For more information, click here. A similar bill was previously introduced in the House of Representatives. For more information, click here.

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Optio Solutions

MARCH 19, 2024

Compliance and Brand Protection: A Moving Target Reputable collection agencies specialize in navigating the ever-changing landscape of debt collection regulations. While the Fair Debt Collection Practices Act (FDCPA) sets a national baseline, many states have additional regulations that can be complex and constantly evolving.

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Troutman Sanders

MAY 2, 2023

Stay tuned for Part 2 of this special series that takes a deeper dive into the rule’s data collection requirements and anti-discouragement provisions. In addition to his litigation practice, Addison also provides regulatory compliance assistance to a wide array of companies across the financial services industry.

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Troutman Sanders

DECEMBER 20, 2022

On December 15, the Office of the Comptroller of the Currency, along with the Federal Financial Institutions Examination Council, released revised procedures for how its examiners will investigate financial institutions for Fair Debt Collection Practices Act compliance, incorporating Regulation F changes into their review.

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Consumer Financial Services Law

MARCH 27, 2018

Dunn The House Financial Services Committee voted 35-25 on March 21, 2018 to advance H.R. Dunn practices in Smith Debnam's Consumer Financial Services Litigation and Compliance Group. By: Zachary K. 5082, officially known as the “Practice of Law Technical Clarification Act of 2018,” to the full House of Representatives.

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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.

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FFGN COLLECT NY

DECEMBER 15, 2021

The Bureau educates, establishes and enforces rules, and has a compliance arm addressing debt collection as it relates to consumer collections. In New York State, it’s the Department of Financial Services. The CFPB regulates debt collection only as it relates to consumer debt.

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Troutman Sanders

MARCH 9, 2022

Please join us on March 9 for a complimentary webinar to discuss how Regulation F represents a sea of change to how consumer and debt collectors will approach lawsuits brought under the Fair Debt Collection Practices Act.

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Troutman Sanders

APRIL 25, 2022

On April 15, the CFPB released its annual Fair Debt Collection Practices Act (FDCPA) report, which summarizes the CFPB’s activities to administer the FDCPA and also includes activities conducted by the Federal Trade Commission (FTC) relating to debt collection. For more information, click here.

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Troutman Sanders

DECEMBER 7, 2021

On November 30, Regulation F of the Fair Debt Collection Practices Act became effective. On November 29, the CFPB issued a new advisory for financial institutionsto help prevent elder financial exploitation with alerts to trust contacts. For more information, click here. For more information, click here.

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True Accord

SEPTEMBER 2, 2021

As we know, the industry is constantly evolving and collections strategies must adapt. At the end of July, the Consumer Financial Protection Bureau (CFPB) announced that the final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned on November 30.

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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. This article discusses the similarities and differences between the FDCPA and the FCCPA.

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Troutman Sanders

JULY 21, 2022

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Stefanie Jackman and Sarah Reise as they discuss the intersection of fair lending with collections. Transcript: Fair Lending 101 for Debt Collectors (PDF).

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Troutman Sanders

FEBRUARY 17, 2023

Please join Consumer Financial Services Partner Dave Gettings in this inaugural crossover episode with Partner Chris Willis of The Consumer Finance Podcast in welcoming their guests and fellow Partners Cindy Hanson and David Anthony. He brings significant experience in class actions and complex individual lawsuits.

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Troutman Sanders

OCTOBER 7, 2022

Please join Consumer Financial Services Partner Dave Gettings and his colleagues Ethan Ostroff, Brooke Conkle, and Jon Kenney as they discuss the Third Circuit’s recent decision in the Bibbs case, particularly the Third Circuit’s treatment of “pay status” allegations and what we can expect to see going forward.

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