fair debt collection practices act

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On May 16, 2016, the U.S. Supreme Court unanimously held in Sheriff v. Gillie that an independent contractor to the Ohio Attorney General (OAG) did not mislead consumers in violation of the Fair Debt Collection Practices Act (FDCPA) when it used the OAG’s letterhead in correspondence with consumers in collecting debts owed to the State…

The CFPB is poised to further ramp up its oversight of the debt collection industry.  According to a Bloomberg report by Carter Dougherty, Director Cordray said in an interview earlier this week that the CFPB “will be looking to write” new regulations under the Fair Debt Collection Practices Act (FDCPA) and will “continue to pursue…

Jeff Sovern has written an interesting blog post about the CFPB’s recent Bulletin 2013-07 that warns creditors and servicers who are not covered by the FDCPA that their collection practices are subject to the CFPB’s authority under Section 1031 of the Dodd-Frank Act which prohibits “unfair, deceptive, or abusive” acts or practices (UDAAPs).  In particular,…

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…

Debt collection will continue to be a major CFPB focus in 2013.  That’s the clear takeaway from the CFPB’s second annual report to Congress on enforcement of the Fair Debt Collection Practices Act.  Another takeaway is that the CFPB’s supervisory authority in the debt collection arena continues to expand.  Dodd-Frank gave the CFPB supervisory authority…