CFPB, Federal Agencies, State Agencies, and Attorneys General
The trade group representing debt collection agencies, creditors, debt buyers, collection attorneys, and debt collection industry service providers has filed suit challenging the Colorado law that bans the inclusion of medical debts in credit reports.
ACA International is joined by one of its members, the Fresno Credit Bureau, in the suit against Martha Fulford, the Colorado Uniform Consumer Credit Code Administrator. … Continue Reading
On August 8, 2025, the Consumer Financial Protection Bureau (“CFPB”) issued four advance notices of proposed rulemaking (“ANPR”) inviting comments on whether it should substantially reduce the number of nonbank companies the CFPB supervises in the auto finance, international money transfer, debt collection, and consumer credit reporting markets. An agency spokesperson told Law 360, “As part of President Trump’s overhaul of this abusive agency, ‘Larger Participant’ regulations are open for re-examining after more than a decade.… Continue Reading
The CFPB recently made filings with the Office of Management and Budget (OMB) regarding the following rules:
Florida Gov. Ron DeSantis recently signed legislation making it clear that debt collection emails sent between 9 p.m. and 8 a.m. do not violate Florida law.
Those are the hours that debt collectors are prohibited from communicating with debtors. Now, emails are excluded from that prohibition.
“The bill includes preamble clauses that acknowledge emails were not commonly used or explicitly contemplated when the Florida Legislature prohibited the practice of communicating with a consumer at night,” a Florida Legislature memo explaining the bill states.… Continue Reading
A federal judge has ordered debt collector, Global Circulation Inc. (GCI) to temporarily halt operations, following an FTC complaint that alleged GCI tricked consumers into paying more than $7.6 million in bogus debt by threatening them with jail time, harassing their family members, and taking other unlawful actions.
U.S. District Judge Eleanor S.… Continue Reading
The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report.
The CFPB said that those complaints amounted to 53% of the debt collection complaints filed with the bureau in 2023.… Continue Reading
In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of Financial Institutions (DFI) to expand use of the Nationwide Multistate Licensing System and Registry (NMLS) across license types, modernizes money transmission laws, and revises the regulation of consumer lenders, collection agencies, check sellers, payday lenders, community currencies exchanges, sales finance companies, adjustment service companies, and insurance premium companies.… Continue Reading
The CFPB announced last week that it has entered into a consent order with Commonwealth Financial Systems, Inc. (Commonwealth), a third-party debt collection company that collects past-due medical debts and furnishes information about consumers to consumer reporting agencies (CRAs), to resolve Commonwealth’s alleged violations of the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). … Continue Reading
The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s debt collection activities in 2022. The report incorporates information from the FTC’s most recent annual letter to the CFPB describing its 2022 activities in the debt collection market.
CFPB Report. The CFPB report includes a “spotlight” section on the collection of medical bills. … Continue Reading
The CFPB announced at the end of last week that it had entered into a consent order with Phoenix Financial Services, LLC (Phoenix), a third-party debt collector that collects primarily past-due medical debts and furnishes information to consumer reporting agencies (CRAs), to settle alleged violations by Phoenix of the Fair Credit Reporting Act and its implementing Regulation V, the Fair Debt Collection Practices Act, and the Consumer Financial Protection Act. … Continue Reading
