The CFPB completed its Fair Debt Collection Practices Act rulemaking today with the release of Part II of its final collection rule.

Part II has three primary components dealing with validation notices, passive debt collection through negative reporting, and the collection of time-barred debt.  Most notably, the provisions dealing with time-barred debt depart significantly

In a new lawsuit filed in a Missouri federal district court, the CFPB alleges that BounceBack, Inc. violated the FDCPA and CFPA in connection with its operation of bad-check pretrial-diversion programs on behalf of more than 90 district attorneys’ offices throughout the United States.  Such programs require the writer of a dishonored check to pay

The FTC has announced a settlement of its first enforcement action targeting the practice of “debt parking.”  As described in the FTC’s complaint filed in a Missouri federal district court against Midwest Recovery Systems, LLC and its owners, this practice, also referred to as “passive debt collection,” involves the placing of purported debts on consumers’

For our financial services clients interested in monitoring important federal and state legal developments, Ballard Spahr has launched a comprehensive, national tracking service designed to serve the needs of specific segments of the consumer financial services industry.

Beginning January 2, 2021, Ballard is pleased to offer three new federal and state trackers, which are available

On November 16, 2020, the California Department of Financial Protection and Innovation (DFPI) held a “listening session” relating to the implementation of the California Consumer Financial Protection Law (CCFPL). The DFPI’s intent of the session was to gather feedback on the CCFPL to help inform and prioritize its rulemaking and implementation efforts. Also during the

The U.S. Court of Appeals for the Ninth Circuit, in Urbina v. National Business Factors Inc., ruled that a debt collector could not rely on the FDCPA’s bona fide error defense by contractually obligating its creditor clients to provide accurate information.

The collection services contract that National Business Factors (NBF) had entered into with

Continuing our series of blog posts breaking down the CFPB’s final debt collection rule, we now discuss whether the November general election results are likely to have any impact on the final collection rule.

It seems clear that, though President Trump has yet to concede, Joe Biden has won the presidential election. We expect President-elect

On November 13, 2020, from 12:00 p.m. to 1:00 p.m. ET, we will present a webinar on the CFPB’s final collection rule.  Click here for more information and to register.

Our blog post series has detailed a number of ways in which the CFPB’s final debt collection rule departs from last year’s NPRM.  There are

On November 13, 2020, from 12:00 p.m. to 1:00 p.m. ET, we will present a webinar on the CFPB’s final collection rule.  Click here for more information and to register.

The CFPB’s debt collection final rule will significantly impact the operations of mortgage servicers.  Not surprisingly, the CFPB declined to generally exempt mortgage servicers from