On behalf of a unanimous Supreme Court, Justice Neil Gorsuch delivered his first opinion on June 12 to determine whether debt purchasers fall within the statutory language under the Fair Debt Collection Practices Act (FDCPA) as debt collectors. The Court determined that a company may collect debts that it purchased for its own account without… Continue Reading
On November 2, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General filed a lawsuit in federal district court in New York over an alleged “massive, illegal debt-collection scheme” that supposedly involved improperly increased debts and threats of arrest or legal action against delinquent borrowers. Douglas MacKinnon and Mark Gray are accused of… Continue Reading
On August 4, 2016, in conjunction with issuing the final mortgage servicing rule, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule under the Fair Debt Collection Practices Act (FDCPA). Although a mortgage servicer’s conduct is not always governed by the FDCPA, as the CFPB explains in the interpretive rule, servicers that acquire a… Continue Reading
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