Home / Daily Digest / Daily Digest – April 10. Mass. Supreme Court Rules Passive Debt Buyers Don’t Need Licenses; Second Circuit Revives Class-Action Suit Against Agency, For The Second Time

Daily Digest – April 10. Mass. Supreme Court Rules Passive Debt Buyers Don’t Need Licenses; Second Circuit Revives Class-Action Suit Against Agency, For The Second Time

The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.

 

MASSACHUSETTS SUPREME COURT RULES PASSIVE DEBT BUYERS DON’T NEED COLLECTION LICENSES

  • The top state court in Massachusetts – the state’s Supreme Judicial Court – has ruled that a passive debt buyer does not need a debt collector license to operate in that state. The ruling overturns a summary judgment ruling from a lower court in the state which had held that the defendant, LVNV Funding, did need a license under state law to operate as a debt buyer in Massachusetts. The lower court had certified a class action against the defendant.

 

JUDGE DENIES SUMMARY JUDGMENT REQUESTS FROM BOTH SIDES IN CFPB, WELTMAN CASE

 

SECOND CIRCUIT REVIVES CLASS-ACTION LAWSUIT AGAINST COLLECTION AGENCY, FOR THE SECOND TIME

  • The Court of Appeals for the Second Circuit has revived – for the second time – a class-action lawsuit that was filed against a collection agency. The lower court has twice dismissed the suit against the defendant, but has lost both times on appeal. The issue at hand is whether a settlement offer made by a defendant, in this case a collection agency, nullifies a claim made by a plaintiff, even if a judge grants a judgment in favor of the defendant.

 

‘LIKELY NO FLUKE’ THAT CFPB HAS NOT ISSUED ENFORCEMENT ACTIONS UNDER MULVANEY: REPORT

  • The mainstream media is slowly starting to catch on that the Consumer Financial Protection Bureau appears to have taken a vow of enforcement inaction following the appointment of Mick Mulvaney as acting director. After averaging between two and four enforcement actions per month under former director Richard Cordray, who left the agency in late November to run for governor of Ohio, the CFPB has taken no enforcement actions in the four-plus months that Mulvaney has been at the helm of the agency.

 

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This was funny, especially the line about avoiding Sallie Mae

Can you solve this riddle?

The Daily Digest is sponsored by Beam Software. A Microsoft Gold Certified Partner, Beam is a thought leader in portfolio management and collection software. They offer both cloud-based and on-premise solutions to accommodate the entire collection continuum. For more information, please visit www.beamsoftware.com or call (800) 212-2326.

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