BEDARD WALKS THROUGH REGULATION F’S OTHER PROHIBITED PRACTICES
- One of the first things that most collectors and debt buyers do after receiving a new account or portfolio of accounts is make sure that none of the individuals have filed for bankruptcy protection. Section 1006.30 of Regulation F, more commonly known as the Consumer Financial Protection Bureau’s Debt Collection Rule is essentially the reason for that they do that. Under the regulation, which includes many of the provisions from the Fair Debt Collection Practices Act, collectors are barred from attempting to collect on a debt which has been paid or settled or discharged in bankruptcy. And, as John Bedard from Bedard Law Group points out in this episode of “You Wanted a Rule, You Got a Rule,” what defines a debt collector can be an expansive term.
CFPB RULE REQUIRES COLLECTORS TO PROVIDE STATEMENT OF RIGHTS WHEN EVICTING TENANTS
- Debt collectors that evict tenants will have to provide written notice to those individuals, alerting them to their rights under the Centers for Disease Control’s moratorium on evictions and will face prosecution by state attorneys general for violations of the Fair Debt Collection Practices Act or private lawsuits by the tenants for not doing so under a rule issued yesterday by the Consumer Financial Protection Bureau. The rule goes into effect on May 3.
HOUSE COMMITTEE TO MARK UP COLLECTION BILLS TODAY
- The House Financial Services Committee will be marking up a series of bills today, including one that was introduced last week by Rep. Maxine Waters [D-Calif.], the chairwoman of the Committee, that includes eight different bills aimed at debt collectors.
WASHINGTON LEGISLATURE INCREASES FINES FOR CONSUMER PROTECTION ACT VIOLATIONS
- The Washington state legislature has passed a bill at the request of the state Attorney General that increases the penalty for violation of the state’s Consumer Protection Act nearly fourfold, to $7,500 — the first time the penalty has been increased since the law was adopted more than five decades ago.
UVA HEALTH TO WIPE OUT TENS OF THOUSANDS OF LIENS, JUDGMENTS
- UVA Health said yesterday that it is canceling many of its outstanding liens and judgments resulting from collection lawsuits dating back to the 1990s. The move is expected to impact tens of thousands of families.
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