Compliance

iQor Files for Bankruptcy Protection

Collection operation and contact center business-process outsourcing provider iQor filed for Chapter 11 bankruptcy protection yesterday, seeking approval of a pre-packaged plan that would provide the company with $130 million of funding to reorganize itself and continue operating. The company, one of the largest private employers in Tampa, listed only …

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Collection Firm Facing Class-Action FDCPA Suit

A collection law firm in Virginia is being sued for allegedly violating the Fair Debt Collection Practices Act by misrepresenting the amount of attorney involvement in drafting collection letters and for charging “unreasonable” fees to individuals who do not pay their rent. A copy of the complaint in the case …

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Judge Grants MTD in FCRA Case Over Background Check Disclosure

A District Court judge in Massachusetts has granted a defendant’s motion to dismiss after it was sued for allegedly violating the Fair Credit Reporting Act because it included “extraneous” information on a background check disclosure form, ruling that the plaintiff never alleged that the information “caused any actual confusion.” A …

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CFPB, NY AG Sue Alleged Collection Scammers

A number of debt collection companies, alleged to have been operating as one common enterprise, along with the principals and managers of the companies have been sued by the Attorney General of New York and the Consumer Financial Protection Bureau, for allegedly violating the Fair Debt Collection Practices Act, the …

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Encore Capital Releases Statement in Response to CFPB Suit

Hours after it was announced that it was being sued by the Consumer Financial Protection Bureau for violating the terms of a consent order that was entered into in 2015, Encore Capital Group released the following statement: “Encore is built on a foundation of treating our consumers fairly and respectfully,” …

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Payday Lender Appeals $132M Restitution Award

A payday lender is appealing an administrative law judge’s ruling that it should repay $132 million in restitution to individuals who were misled regarding the terms of the loans they originated, were wrongfully required to provide access to their bank accounts, and had money taken from those accounts without their …

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