CFPB PUBLISHES REPORT ON THIRD-PARTY COLLECTION INDUSTRY
- The Consumer Financial Protection Bureau released a report on the third-party debt collection industry yesterday that contained a number of interesting nuggets and factoids, while not necessarily drawing any conclusions about the state of the industry itself.
NC AG SUES AGENCY FOR NOT HAVING LICENSE, USING CRIMINAL SUMMONS TO COLLECT
- The Attorney General of North Carolina has filed a lawsuit and received a temporary restraining order against a series of entities owned by one individual who purchases defaulted debts from a rent-to-own chain and attempts to collect on the debts by sending unsigned criminal summonses or even going as far as to get the summonses signed using the wrong state law.
JUDGE GRANTS MSJ FOR DEFENSE IN FDCPA CASE OVER ALLEGED SOL VIOLATION
- A District Court judge in Washington has granted summary judgment in favor of a defendant that was sued for allegedly violating the Fair Debt Collection Practices Act when it sent a collection letter to an individual to attempt to collect on a time-barred debt and did not inform the individual that any payment could revive the statute of limitations.
APPEALS COURT UPHOLDS RULING THAT COLLECTOR CAN’T ENFORCE ARBITRATION AGREEMENT IN FDCPA CASE
- The Court of Appeals for the Third Circuit has upheld a lower court’s ruling that a third-party collection agency can not invoke the creditor’s mandatory arbitration agreement because the defendant’s request to follow the choice-of-law clause in the original cardholder agreement does not provide the proper basis to allow the defendant to enforce the arbitration agreement.
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I feel the need…
Funny Friday
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