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CHOPRA TO BE NOMINATED TO REPLACE KRANINGER AT CFPB: REPORTS Rohit Chopra is going to be nominated by President-elect Joe Biden to replace Kathleen Kraninger as the director of the Consumer Financial Protection Bureau, according to a number of reports citing anonymous sources. CFPB RELEASES SMALL ENTITY COMPLIANCE GUIDE FOR …

The debt collection industry is being targeted for receiving funds under the Paycheck Protection Program because many of those companies have been complained about by consumers to the Consumer Financial Protection Bureau or been subject to regulatory and enforcement actions. Debt collectors and payday lenders received more than $580 million …

The Consumer Financial Protection Bureau on Friday released a new resource related to its debt collection rule, this one aimed at helping smaller collection agencies comply with the rule once it goes into effect this November. At a brisk 87 pages, the Small Entity Compliance Guide to the Debt Collection …

Rohit Chopra is going to be nominated by President-elect Joe Biden to replace Kathleen Kraninger as the director of the Consumer Financial Protection Bureau, according to a number of reports citing anonymous sources. Chopra is currently a commissioner with the Federal Trade Commission and formerly worked at the CFPB as …

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management – Turnkey Speech Analytics. And Our New BLG360 Program – Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H. Bedard, Jr., or call (678) 253-1871. Every week, …

EDCA JUDGE GRANTS MTD IN FDCPA SERVICE FEE CASE A District Court judge in California has granted a defendant’s motion to dismiss a class-action lawsuit after it was sued for violating the Fair Debt Collection Practices Act when it was sued because the collection agency it placed a debt with …

The Federal Communications Commission has assessed a $10 million fine against an individual accused of illegally using Caller ID in violation of the Truth in Caller ID Act to spoof thousands of robocalls that spewed racist and xenophobic messages. Scott Rhodes was accused of making 4,959 robocalls during a seven-month …

The Consumer Financial Protection Bureau has released a series of guidelines for companies in the financial services industry when dealing with individuals for whom English may not be their primary language. The guidelines echo a similar rule that was enacted last year in New York City, but stop short of …

The Attorney General of Minnesota has obtained a settlement with a student loan debt relief company that illegally collected fees from individuals and misrepresented its services that will see the company pay the state more than $11,000 and cease operations in the state. The company, Document Assist Center, is based …

A District Court judge in California has granted a defendant’s motion to dismiss a class-action lawsuit after it was sued for violating the Fair Debt Collection Practices Act when it was sued because the collection agency it placed a debt with sent a collection letter that indicated the plaintiff would …

GETTING TO KNOW KELLY FEOLI OF MRS BPO It’s the end of the day. People are winding down after another day in the trenches. But Kelly Feoli is just warming up. Loving the quiet that follows another hard day in the office, it allows her to focus and strategize what …

A District Court judge in Wisconsin has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act class-action case, determining that the plaintiff lacked standing to sue because he took no action to clarify his confusion over whom he should pay after receiving a collection letter …

The Colorado legislature kicked off its 2021 session yesterday and the second bill that was introduced in the state Senate was a measure to extend the moratorium on “extraordinary” collection actions in the state until June 1. A copy of the bill, which was introduced by state Senators Faith Winter …

The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations …

In collections, any payment can be considered to be a good payment, especially if it shows that an individual is interested and committed to paying off a debt. But as one agency learned that while any payment may be a good payment, collection agencies should not operate like credit card …