CFPB, Federal Agencies, State Agencies, and Attorneys General
The U.S. Court of Appeals for the Fourth Circuit recently ruled that a mortgage servicer violated the Maryland Consumer Debt Collection Act (MCDCA) by charging a $5 convenience fee to borrowers for monthly payments made by phone or online.
In Alexander v. Carrington Mortgage Services, LLC, the plaintiffs filed a class action complaint against…
The CFPB has issued a compliance bulletin and policy guidance on medical debt collection and consumer reporting requirements in connection with the No Surprises Act.
The No Surprises Act sets forth requirements that apply to certain individuals who receive care from an out-of-network provider that furnishes emergency services, inpatient services an in-network facility, or air…
The CFPB filed a complaint earlier this week in a New York federal district court against three companies that purchase defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants). (Click here to read the statement from United Holding Group, LLC, one of the Corporate Defendants,…
The U.S. Court of Appeals for the Eleventh Circuit has scheduled oral argument in the rehearing en banc in Hunstein v. Preferred Collection and Management Services, Inc. for February 22, 2022. After ordering the rehearing en banc in November 2021, the Eleventh Circuit issued a memorandum indicating that for purposes of the rehearing, the Court…
The California Department of Financial Protection and Innovation (DFPI) has published a notice on its website concerning delays that debt collectors and buyers seeking to comply with the new licensing requirement in the state’s Debt Collection Licensing Act are currently experiencing.
The new law, passed in September 2020, requires debt collectors and buyers to apply…
On December 13, 2021, the Federal Trade Commission (FTC) announced that, under the terms of a settlement, a group of phantom debt collectors were permanently banned from the debt collection industry. The term “phantom debt” is generally used to refer to debt that doesn’t exist or has already been paid.
In its related complaint…
Last week, the U.S. Court of Appeals for the Eleventh Circuit ordered rehearing en banc in Hunstein v. Preferred Collection and Management Services, Inc. Yesterday, the Eleventh Circuit issued a memorandum indicating that for purposes of the en banc rehearing, the Court wants counsel to focus their briefs on the question: “Does Mr. Hunstein…
In a surprising turn of events this morning, the U.S. Court of Appeals for the Eleventh Circuit issued an order sua sponte to rehear Hunstein v. Preferred Collection and Management Services, Inc. en banc. The sua sponte order was issued after an Eleventh Circuit judge requested a poll on whether the case should…
On November 8, 2021, New York Governor Hochul signed into law the “Consumer Credit Fairness Act” (S.153). The Act contains a series of amendments to the New York Civil Practice Law and Rules that significantly impact debt collection lawsuits filed in New York state courts by creditors or debt collectors.
The key amendments…
On October 29, the New York Department of Financial Services issued proposed amendments to 23 NYCRR 1, its regulation titled “Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The proposed amendments would make significant changes to the sections of the current regulation dealing with initial disclosure requirements, statute of limitations disclosures, substantiation…
