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CFPB LEVIES $2.5 MILLION FINE AGAINST LAW FIRM, DEBT BUYER
- The Consumer Financial Protection Bureau yesterday assessed a $1 million fine against the law firm of Pressler & Pressler and a $1.5 million fine against debt buyer New Century Financial Services for filing “hundreds of thousands” of lawsuits against consumers based on “flimsy or non-existent” evidence.
ANOTHER CIRCUIT COURT RULES DEBT BUYERS ARE LIABLE FOR MISTAKES OF LAWYERS THEY HIRE
- The Seventh Circuit Court of Appeals has ruled that a debt buyer is liable for any FDCPA violations comitted by a collection law firm trying to collect on summary judgments obtained by the debt buyer. The Seventh Circuit is now the third different circuit court to rule that debt buyers are liable. In this case, the law firm failed to clearly identify the current creditor or owner of the debt in letters sent to consumers.
RUSSIAN TRADE GROUP ADOPTS NEW ETHICS CODE
- A trade group of Russian debt collectors has issued a new ethics code, as reports of violence and intimidation have been running rampant through the country. One of the most important provisions of the new code is prohibiting collectors from speaking to the children of debtors or other third parties. Collectors are also prohibited from speaking to debtors in disrespectful manner, hiding cell number during the calls or mentioning security agencies when talking to debtors.
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Am I the only person who has no idea what is going on with Beyonce and whatever Lemonade is?
How many people can the Earth hold?
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
