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CFPB Schedules Debt Collection Field Hearing

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The Consumer Financial Protection Bureau has scheduled a field hearing for Thursday, July 28 in Sacramento, Calif., to discuss the debt collection industry. Those who want to attend the hearing can RSVP by going to https://consumer-financial-protection-bureau.forms.fm/cfpb-field-hearing-about-debt-collection. It is widely anticipated that the CFPB will publish its proposed debt collection rule — …

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Woman Details Her Career As Professional Plaintiff

If you’ve ever wondered how professional plaintiffs work, here is some interesting insight. A friend of mine sent me this link last night that details a deposition after a woman filed a lawsuit against Wells Fargo, alleging violations of the Telephone Consumer Protection Act. How did she come to be contacted …

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Settlement Bars Pair From Collections Industry For Life

A pair of individuals — Luis O. Carrera and Roberto Llaury — and three companies — BAM Financial, Everton Financial, and Legal Financial Counseling — as well as a number of DBAs under those companies, have been permanently banned from the collection industry as part of a settlement announced this …

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New Debt Collection Regulations Now Effective in Missouri

Attorney General Chris Koster’s two new regulations aimed at protecting Missouri consumers from abusive debt collectors become effective today. The first regulation deems it unlawful to file suits on debt that is beyond the statute of limitations, has been discharged in bankruptcy, or has been declared void or unenforceable by …

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Lawsuit, Complaint Totals Drop in May: WebRecon

There were decreases across the board in the number of lawsuits and complaints filed against debt collectors in May, according to data released today by WebRecon. There were 1, 500 lawsuits filed against collectors in May, alleging violations of the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, …

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Federal Government Proposed Simpler Process for Students Applying for Loan Forgiveness

The Obama administration yesterday issued new rules that will help students with loan forgiveness who were misled or defrauded by their universities. Under the old rules, students could apply to have their student loans forgiven if they could prove that the college or university used illegal tactics to persuade the students to take out financial …

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