Search Results: Debt Collection

Delaware AG Files Lawsuit Against Debt-Management Services Company

On February 8, 2021, the Delaware Attorney General (Delaware AG) announced that it filed an administrative lawsuit against a California-based debt-management services company for allegedly violating the Delaware Uniform Debt-Management Services Act, the Delaware Consumer Fraud Act, and the Delaware Deceptive Trade Practices Act. According to the Delaware AG, ​​the debt-management company used misleading advertising to target elderly and…

Read More

California Agency Enters into MOUs with Five Earned Wage Access Companies

On January 28, 2021, the California Department of Financial Protection & Innovation (DFPI) announced that it entered into five Memorandums of Understanding (MOUs) with five different earned wage access companies.  Earned wage access companies provide consumers with advances or “on-demand pay” before their pay day for wages that they have earned but not yet received.  According to…

Read More

California DFPI Announces Investigation of a Dozen Debt Collectors

On January 19, 2020, the California Department of Financial Protection and Innovation (DFPI) launched an investigation ​into a dozen debt collectors potentially engaging in unlawful, unfair, deceptive, or abusive acts or practices (UDAAP) under California law.  This represents the first major public action taken under the expanded oversight and enforcement authority of the California…

Read More

CFPB Settles with Debt Collection Company for Alleged CFPA and FDCPA Violations

​On December 8, 2020, the Consumer Financial Protection Bureau (Bureau) announced that it had entered into a consent order​ with a New Jersey debt collection company, resolving allegations that the debt collection company violated the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Act (CFPA). The debt collection company was engaged…

Read More

FTC Reaches Settlement With Debt Collection Company for “Debt Parking” Scheme

On November 30, 2020 the Federal Trade Commission (FTC) announced ​that it had reached a settlement with a debt collection company for its “debt parking scheme” (also known as “passive debt collection”)​​ in which the company allegedly placed bogus or questionable debts on consumers’ credit reports in an attempt to coerce them to pay the…

Read More

CFPB Settles with Telecommunications Debt Collector for Alleged FCRA and CFPA Violations

On November 12, 2020, the Consumer Financial Protection Bureau (CFPB) announced ​​that it had entered into a consent order with an Illinois-based debt collector that collects debts on behalf of telecommunications companies and furnishes consumer-account information to credit reporting agencies. The CFPB alleged that the debt collector violated the Fair Credit Reporting Act (FCRA) and the…

Read More

CFPB Settles with Debt Collector for Over $15 Million

On October 15, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it has reached a proposed settlement with the nation’s largest debt collector. The CFPB previously reached a consent order with this company in 2015 for alleged violations of the Consumer Financial Protection Act (CFPA), Fair Debt Collection Practices Act (FDCPA),…

Read More