On Thursday July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released a series of proposals aimed at overhauling the debt collection business. The new proposals require debt collectors to take additional steps to substantiate the accuracy of a debt, limit certain types of communications with consumers, and simplify dispute and litigation procedures. In prepared… Continue Reading
The Consumer Financial Protection Bureau (CFPB) recently released its ninth supervisory highlights report, which includes new findings from its supervisory program from May – August 2015. Overall, the report focuses on examination of the student loan servicing, mortgage origination and servicing, consumer reporting, and debt collection markets. In addition, the report highlights the CFPB’s recent… Continue Reading
The Federal Trade Commission (FTC) on Wednesday announced that it would launch its first-ever coordinated, nationwide law enforcement effort targeting abusive and deceptive debt-collection practices. The initiative is known as Operation Collection Protection, and will combine federal, state and local resources across the country to crack down on debt-collection practices the FTC deems unlawful. The… Continue Reading
We use cookies to enhance your experience of our website. By continuing to use this website, you agree to the use of these cookies. For more information and to learn how you can change your cookie settings, please see our policy.
