Compliance

The Seventh Circuit Court of Appeals last week issued a ruling that brings to end a decade-old case involving the Telephone Consumer Protection Act, which, more importantly, ties the  amount of legal fees recouped by the plaintiffs’ attorneys to the amount of money claimed by the entire class in a …

The Court of Appeals for the Ninth Circuit has overturned a District Court ruling that allowed a collection agency to purchase a lawsuit filed against it by a plaintiff as liquidation of a judgment. The case has been remanded back to the District Court. A copy of the ruling, in …

Perhaps getting a little lost among the news of Richard Cordray’s decision to leave the Consumer Financial Protection Bureau last week was agency announcing it had filed a lawsuit against Think Finance, a company that offers an online lending technology platform, for illegally collecting on loans that are void under …

The Federal Communications Commission today voted to approve new rules that will allow phone carriers to block calls that come from phone numbers that can not or do not make outgoing calls, among other types of calls that will now be blocked. The FCC has been looking to reduce the …

A plaintiff has filed a pair of class-action lawsuits against two collection agencies and Bank of America, alleging that one of the agencies and BofA violated the Telephone Consumer Protection Act and the other agency violated the Fair Debt Collection Practices Act. The agency accused of violating the FDCPA did …

A plaintiff’s attorney who frequently files lawsuits against collection agencies has been called out for filing lawsuits in jurisdictions where the plaintiffs do not reside. “Every single civil cover sheet” filed by Maxim Maximov and his law firm, Maximov Law LLP, “alleges that a respective Plaintiff’s county of residence is …

Richard Cordray, the director of the Consumer Financial Protection Bureau, has announced his resignation. Cordray made the announcement in an email to CFPB employees this morning. He said he plans to step down at the end of the month. “As I have said many times, but feel just as much …

The Second Circuit Court of Appeals has overturned a verdict in favor of a collection law firm that had garnished the bank account of an individual whose sole source of income was from Social Security. A copy of the ruling can be downloaded here. The plaintiff, Franklin Arias, had rented …

A handful of individuals have had charges filed against them for allegedly collecting debts from individuals but not remitting those payments to the agency’s clients. The names of those charged are: Timothy Burke, Jr., Deisi Rivera, Angela Covarrubias, Veronica Ventura,  and Elizabeth Olvera. The defendants used a number of different fraudulent …

Four of the nation’s largest financial services organizations have created a separate company that will standardize vetting of third-party service providers. The financial services firms — Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., and American Express Co. — have created a company called TruSight. The aim …