Search Results: test Debt Collection

Payday Lender and CFPB Settle Debt Collection Allegations for $10 Million

On December 16, 2015, the CFPB announced a consent order and settlement with a small-dollar lender concerning its debt collection practices in 15 states.  According to the consent order, the lender’s unlawful conduct allegedly included:  in-person collection visits at consumers’ homes and workplaces and phone calls to supervisors, landlords, and…

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CFPB Settles with Debt Collector Over Unverified Debts

​On December 7, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a state debt collector over allegations that the debt collector, which collected telecommunications debt, reported inaccurate information to credit-reporting agencies and collected and reported debt that consumers disputed and that it could not…

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Two Student Debt Relief Companies Banned from Operating in Massachusetts

On November 24, the Massachusetts Attorney General’s Office (“AG’s Office”) announced​ that it has reached two separate settlement agreements with student debt relief companies.  The two companies agreed to assurances of discontinuance and agreed to pay $56,000 and $40,000 respectively relating to allegations of charging illegal upfront fees prior to delivering​ full…

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CFPB Publishes Rulemaking Agenda Including Proposed Rule Prohibiting Class Action Waivers

On November 20, 2015, the CFPB published​ its current rulemaking agenda. Under the Dodd-Frank Wall Street Reform Act, the CFPB drafts and implements new regulations governing certain consumer finance products and services. The CFPB publishes its regulatory agenda twice a year, which summarizes the proposed regulations (or “rules”) the Bureau is…

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Employees and Owners of Debt Collection Company Indicted on Federal Criminal Charges

On October 27, 2015, the United States Attorney’s Office for the Southern District of New York announced the indictment of fifteen individuals in connection with a nationwide debt collection operation. The Defendants operated a large debt collection company that allegedly collected debts from consumers who had defaulted on payday loans…

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Ohio AG Announces Enforcement Action Against Regional Debt Collector

On November 4, 2015, the Ohio Attorney General announced that it had filed a civil enforcement action against a regional debt collection company. The lawsuit is part of an ongoing partnership with the Federal Trade Commission (FTC) and other federal agencies to investigate abusive debt collection practices. Enforcement Watch previously…

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Washington AG Announces Enforcement Actions Against Debt Collectors

On November 4, 2015, the Washington Attorney General announced five enforcement actions against debt collection companies. The enforcement actions are part of an ongoing partnership with the Federal Trade Commission (FTC) and other federal agencies to investigate abusive debt collection practices. Enforcement Watch previously reported on the FTC partnership, named…

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FTC Announces New Enforcement Initiative Targeting Debt Collectors

FTC

On November 4, 2015, the Federal Trade Commission (FTC) announced a new enforcement initiative targeting debt collection companies. The initiative, which is known as “Operation Collection Protection,” involves partnerships with state authorities to investigate debt collectors and prosecute civil and criminal enforcement actions against debt collection companies engaged in illegal…

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CFPB Summarizes Supervisory Trends for May through August, 2015

On November 3, 2015, the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report​ detailing the Bureau’s supervision efforts for May through August of 2015. The report summarizes the violations of consumer protection laws the Bureau observed during the four-month period and identifies the areas in which the Bureau has…

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California AG Settles with National Bank over Alleged Abusive Debt Collection Practices

On November 2, 2015, the California Attorney General’s Office announced that it had entered into a $100 million stipulated judgment with a national bank over allegations that the bank engaged in abusive debt collection practices, in violation of California’s Fair Debt Collection Practices Act. The allegations relate to the bank’s…

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