Better Credit Blog

AUGUST 31, 2020

Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. What you may not know is that you are protected by the Fair Debt Collection Practices Act (FDCPA), a law designed to keep third-party debt collectors in check when they contact you.

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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. State laws may provide additional protection.

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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

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 FTC alleged that the defendants pretended to be affiliated with the Department of Education, charged illegal junk fees, and offered students loan forgiveness promises that were not fulfilled.

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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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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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