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,

At yesterday’s joint FTC-CFPB roundtable on the debt collection industry, industry representatives advocated for a uniform, national standard for the documentation to be provided to debtors in the pre-litigation phase of the process. (Local court rules govern required documentation during litigation, making it unlikely that a national standard could be adopted for the litigation phase).

At yesterday’s joint FTC-CFPB roundtable on the debt collection industry, the Fair Debt Collection Practices Act (“FDCPA”) was referenced together with the “1970s” a number of times. Commissioner Julie Brill, in an unscripted moment in her opening remarks, smiled at the thought that the FDCPA was enacted the same year she graduated from high

While attending this year’s DBA International Annual Conference, I had the opportunity to hear remarks from Kent Markus, the CFPB’s Director of Enforcement, regarding the CFPB’s approach to enforcement actions generally, as well as with regard to the debt buying industry.   

Mr. Markus began his remarks by stating that the CFPB “believes that people should