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Compliance Digest – May 31

Every week, AccountsRecovery.net brings you the most important news in the industry. But, with compliance-related articles, context is king. That’s why the brightest and most knowledgable compliance experts are sought to offer their perspectives and insights into the most important news of the day. Read on to hear what the …

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Judge Lowers Attorney Award in FDCPA Case by 62%

A Magistrate Court judge in Wisconsin has cut the amount sought by plaintiff’s attorneys who were awarded summary judgment in a Fair Debt Collection Practices Act case by nearly two-thirds, lowering both the hourly rate and the number of hours awarded that were submitted by the plaintiff. A copy of …

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FDIC Reaches Settlement in Choke Point Case

The Federal Deposit Insurance Corp. announced last week that it had “resolved” a lawsuit filed by a number of payday lenders, alleging that banks had used Operation Choke Point to cut off the lenders’ access to financial services. Under the terms of the settlement, the FDIC, which regulates commercial banks …

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