Search Results: test FDCPA

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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CFPB Enters $48 Million Consent Order with Indirect Auto Lender

On October 1, 2015, the CFPB announced an enforcement action and consent order with an indirect auto lender for illegal debt collection and other practices.  It is alleged that the company’s actions violated the Fair Debt Collection Practices Act, the Truth in Lending Act, and the Dodd-Frank Act. The illegal…

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Debt Collector Settles with FTC Over Misrepresentations Made to Payday Loan Borrowers

FTC

​On September 16, the Federal Trade Commission (FTC) announced that it had entered a stipulated order with a debt collection services provider over allegations that the debt collector violated the Federal Trade Commission Act and Fair Debt Collection Practices Act by misrepresenting to payday loan recipients that they were delinquent on their debts, collected millions…

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Debt Collectors Enter Consent Orders with CFPB for FDCPA Violations

​On September 9, the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with two large debt purchasers for alleged violations of the Fair Debt Collection Practices Act, Consumer Financial Protection Act, and Fair Credit Reporting Act.  CFPB alleged that the companies purchased debts that they knew or…

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CFPB Issues Order and Penalties Against National Bank for Student Loan Servicing Practices

On July 22, 2015, the Consumer Financial Protection Bureau (“CFPB”)​ issued a consent order against a national bank and its affiliates for its servicing practices affecting private student loan borrowers.​  The order asserts that the bank violated various sections of the Consumer Financial Protection Act of 2010 (“CFPA”) and the Fair…

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FTC Reaches Accord With Companies and Individuals Accused of Phony Debt Collection Scam

FTC

​On July 8, 2015, the Federal Trade Commission (FTC) announced that settlements were approved against companies and individuals who allegedly operated a fraudulent debt collection scheme that targeted Spanish-speaking consumers.  According to the complaint, the defendants cold called Spanish-speaking consumers nationwide, and falsely held themselves out to be government officials seeking to collect a debt…

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CFPB Summarizes Recent Results of Supervisory Enforcement

On June 23, 2015, the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report detailing the Bureau’s supervision efforts for the first four months of 2015. The report summarizes the most common “illegal practices” uncovered by the Bureau and identifies the areas where the Bureau has  focused on in its…

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