Daily Digest – May 4. Hunstein-Related Class Actions Continue Piling Up; Cordray Back in Federal Government

HUNSTEIN-RELATED CLASS ACTIONS CONTINUE PILING UP

  • The number of 1692c(b) lawsuits alleging that a debt collector communicated information with a third party in violation of the Fair Debt Collection Practices Act continues to explode in the weeks following the Eleventh Circuit Court of Appeals’s ruling in Hunstein v. Preferred Collection and Management Services. There have been 42 cases filed across the country since the Hunstein ruling was announced on April 21, with 27 of them class-actions, according to data compiled by WebRecon. There was only one 1692c(b) class-action filed this year before the Hunstein ruling came out, according to WebRecon’s database.

CORDRAY TAPPED TO RUN FEDERAL STUDENT LOAN PROGRAM

  • A familiar name is coming back to help regulate the accounts receivable management industry. Yesterday, it was announced that Richard Cordray — the former director of the Consumer Financial Protection Bureau — has been hired as the Chief Operating Office of the Department of Education’s Federal Student Aid, which oversees $1.6 trillion of student loans.

JUDGE PARTIALLY GRANTS MSJ FOR DEFENDANT IN FCRA, FDCPA SUIT OVER DISPUTED RENTAL DEBT

  • A District Court judge in Alabama has denied a plaintiff’s motion for summary judgment and granted a defendant’s motion on most of the claims it violated the Fair Credit Reporting Act and the Fair Debt Collection Practices Act after it attempted to collect on an unpaid debt related to an apartment rental.

ARM M&A ACTIVITY REMAINS STRONG IN 1Q: CAS

  • The number of merger and acquisition deals in the accounts receivable management industry nearly doubled in the first quarter of 2021, compared with the same period last year, and the total deal value nearly increased by 20%, according to data released by Corporate Advisory Solutions, which released its comprehensive quarterly market insights newsletter last week.

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