Daily Digest

Daily Digest – September 11. IQor Files for Bankruptcy; Appeals Court Affirms Dismissal of FCRA Case Over Deleted Item

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. APPEALS COURT AFFIRMS DISMISSAL OF FCRA CASE …

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Daily Digest – September 9. CFPB Sues Encore, Subsidiaries For Violating Consent Order; CFPB, NY AG Sue Alleged Scammers

CFPB SUES ENCORE, SUBSIDIARIES, FOR VIOLATING TERMS OF 2015 CONSENT ORDER The Consumer Financial Protection Bureau yesterday filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC, Midland Credit Management, Inc., and Asset Acceptance Capital Corp., accusing the companies of violating the terms of a 2015 …

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Daily Digest – September 2. Calif. Legislature Passes Licensing Law; CFPB Warns Court About Ratification Implications

CALIFORNIA LEGISLATURE PASSES COLLECTOR LICENSING LAW The California state legislature on Monday became the 35th state to require debt collectors to obtain licenses in order to operate, passing a measure that also establishes baseline practices that will be prohibited, should Gov. Gavin Newsom sign the bill into law. CFPB WARNS …

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Daily Digest – September 1. Mass. AG Sues Auto Lender For Violating State Call Limits; Calif. Legislature Approves State CFPB

MASS. AG SUES AUTO LENDER FOR VIOLATING STATE COLLECTION CALL LIMITS, AMONG OTHER VIOLATIONS The Attorney General of Massachusetts yesterday announced a lawsuit against Credit Acceptance Corp., a subprime auto lender, for knowingly originating loans to individuals even though it knew they would be unable to repay them, and then …

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Daily Digest – August 28. FTC Files Suit Against Alleged Scammers; CFPB Denies Petition to Set Aside CID

FTC FILES SUITS AGAINST ALLEGED DEBT COLLECTION SCAMMERS A District Court judge in South Carolina has lifted the seal on two complaints filed by the Federal Trade Commission against debt collection operations that are accused of violating the Fair Debt Collection Practices Act by allegedly convincing unsuspecting individuals that lawsuits …

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