Compliance

A trio of Senate Republicans have introduced a bill aimed at making it easier for individuals to consent to receiving certain electronic documents, like account information and contracts, overhauling the Electronic Signatures in Global and National Commerce (E-SIGN) Act. The bill, aptly named the E-SIGN Modernization Act, was introduced by …

Voice service providers are going to start keeping track of the most recent date in which a phone number was permanently disconnected and must age phone numbers for 45 days before reassigning them by July 27, according to an announcement from the Federal Communications Commission’s Consumer and Governmental Affairs Bureau. …

Every time the Fair Debt Collection Practices Act is violated a separate statute of limitations clock starts running, the Fourth Circuit Court of Appeals ruled yesterday, overturning a lower court’s dismissal of a suit for ruling that subsequent violations of the FDCPA were of the “same type” as the original …

A District Court judge in Illinois has granted a defendant’s motion for judgment on the pleadings in a Fair Debt Collection Practices Act case in which a collection agency was accused of threatening legal action which it did not plan to take. A copy of the ruling in the case …

It is shaping up to be a very interesting Fall for the credit and collection industry, one that could re-shape the industry for a generation to come. The Consumer Financial Protection Bureau this week published its Spring rulemaking agenda and indicated that it is planning to release its final debt …

A District Court judge in Illinois has granted a defendant’s motion for summary judgment after it was sued for violating the Fair Debt Collection Practices Act by saying in a collection letter that payment options “may” not be available if the recipient of the letter did not contact the collection …

When foreclosing on a house, whether a lender attempts to recover the unpaid balance on a mortgage or just recover the property determines whether the Fair Debt Collection Practices Act applies, according to a ruling issued yesterday by the Ninth Circuit Court of Appeals. As long as the lender is …

At what point does a blip become a trend? The credit and collection industry may want to ask that question after reviewing the monthly lawsuit totals from WebRecon, in which the number of Fair Debt Collection Practices Act suits declined for the fifth straight month and are now more than …

The Office of the Comptroller of the Currency — a regulator that oversees national banks — has issued a new set of guidelines aimed at outlining what constitutes unfair or deceptive acts or practices (UDAP) and unfair, deceptive, or abusive acts or practices (UDAAP), for banks and their third parties. …

The state of Iowa has enacted a new law that will prohibit counties from using private debt collectors to collect on unpaid court fees and victim restitution. The law was signed by Gov. Kim Reynolds last Friday. Previously, one private collection agency had been collecting on behalf of 30 counties …