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Compliance

Should CFPB Stand For Curbing Funding of Portfolio Buying?

Is the Consumer Financial Protection Bureau trying to legislate the debt-buying industry through a series of settlements it has reached with participants in this market? It would certainly seem so, especially considering the terms of a settlement announced yesterday between the CFPB and Encore Credit and Portfolio Recovery Associates. Among …

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CFPB Takes Big Swing at Encore, PRA

The Consumer Financial Protection Bureau has taken a huge swipe at the collection activities of Encore Capital Group and Portfolio Recovery Associates, assessing millions of dollars in fines and forcing the two debt-buying giants to stop collections on nearly $130 million in debts that the companies purchased. The companies stand accused …

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CFPB Issues Monthly Complaint Report

The Consumer Financial Protection Bureau has issued its second monthly complaint report, which analyzes trends in complaints filed by consumers with the regulator, and also spotlights one particular area of concern. This month’s spotlighted area is credit reporting complaints, which were 56% higher in July than June, according to data …

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Debt No-Sale. One Senator’s Misplaced Push To Further Regulate The Debt-Buying Industry

Take a look at this internet URL for a moment: brown. senate. gov/newsroom/press/release/with-thousands-of-ohioans-affected-by-errors-in-their-credit-reports-brown-urges-feds-to-take-action-against-zombie-debts-that-are-no-longer-owed-but-linger-on-credit-reports Now, when it comes to naming most things, shorter is better. And if that were the case, then this URL would probably be among the worst ever. But when it comes to internet headlines, longer is usually …

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Next FTC Debt Collection Event Includes Industry Speakers

If the announced list of speakers is any indication, it appears as though the Federal Trade Commission has learned  at least a little bit from its past efforts. After shunning the industry during its first Debt Collection Dialogue event in Buffalo in June, the regulatory agency announced that representatives from both …

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