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OCC ISSUES FINAL ‘VALID WHEN MADE’ RULE TO ADDRESS MADDEN FIX The Office of the Comptroller of the Currency — which regulates national banks — on Friday issued a final rule that clarifies a key component of the debt buying transaction, a concept known as the “valid when made” doctrine, …

A District Court judge in New York has granted a defendant’s motion for judgment on the pleadings after it was sued for violating the Fair Debt Collection Practices Act because it attempted to collect on a time-barred debt without making the proper disclosures in a statement letter. A copy of …

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The Office of the Comptroller of the Currency — which regulates national banks — on Friday issued a final rule that clarifies a key component of the debt buying transaction, a concept known as the “valid when made” doctrine, which ensures the terms of loans remain valid after they are …

The state of Nevada’s Financial Institutions Division has extended its directive that prohibited collection agencies in the state from attempting to collect from Nevada residents for another 30 days, according to ACA International, which posted a copy of a letter the state sent to licensed entities alerting them to the …

DEBT DEFERRAL PROGRAM IN NORTH CAROLINA NOT EXTENDED It appears as though a debt deferral program that has been in place in North Carolina for the past two months expired on May 27 and was not renewed by the state’s Department of Insurance, thereby ending the program. JUDGE GRANTS MTD …

Legislation in the Massachusetts legislature is progressing which would shorten the statute of limitations by two years, halve the post-judgment interest rate, and exempt more individuals from having their assets garnished, according to a lengthy published report. The bill, which was introduced by state Sen. Jamie Eldridge, has been approved …

A District Court judge in New York has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act by referencing the “current balance” in a collection letter. A copy of the ruling in the case of Dicristo v. National Recovery Solutions can …

A Texas hospital cited in a report for filing the second-most debt collection lawsuits during the past two years in the Lone Star State is standing up and defending its actions, saying that lawsuits are always a “last resort” to try and collect on an unpaid debt. Cedar Park Regional …

It appears as though a debt deferral program that has been in place in North Carolina for the past two months expired on May 27 and was not renewed by the state’s Department of Insurance, thereby ending the program. The order from Insurance Commissioner Mike Causey was extended on April …

GETTING TO KNOW KRISTIE BASS OF MIDWEST FIDELITY For some people, hearing “when you get a chance” automatically gives him or her an out to not do what is being asked because he or she can just respond, “Sorry, I never got the chance.” But then there are people like …

A trio of law professors have published a paper that state and federal governments, as well as the Consumer Financial Protection Bureau can use as a playbook to support their arguments why all debt collection activities should be shut down during the coronavirus pandemic. For Pamela Foohey, an Associate Professor …

A District Court judge in New Jersey has denied a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act even though the suit was filed more than four years after the letter that is the source of the complaint was sent to the …

A number of hospitals and healthcare facilities in Texas, along with the collection law firms that represent them, are the subjects of a report that was issued yesterday, indicating that individuals were still being sued for unpaid debts even after the governor declared a state of emergency in the Lone …

The “Getting to Know” series is sponsored by Arbeit. Arbeit is a powerful, and easy to use communications platform that empowers businesses to reach more consumers. Innovative by nature, we are constantly listening to and understanding the businesses we partner with and developing long term industry relationships that allow us …