Tag Archives: CFPB

Should CFPB Stand For Curbing Funding of Portfolio Buying?

Is the Consumer Financial Protection Bureau trying to legislate the debt-buying industry through a series of settlements it has reached with participants in this market? It would certainly seem so, especially considering the terms of a settlement announced yesterday between the CFPB and Encore Credit and Portfolio Recovery Associates. Among …

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CFPB Takes Big Swing at Encore, PRA

The Consumer Financial Protection Bureau has taken a huge swipe at the collection activities of Encore Capital Group and Portfolio Recovery Associates, assessing millions of dollars in fines and forcing the two debt-buying giants to stop collections on nearly $130 million in debts that the companies purchased. The companies stand accused …

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CFPB Issues Monthly Complaint Report

The Consumer Financial Protection Bureau has issued its second monthly complaint report, which analyzes trends in complaints filed by consumers with the regulator, and also spotlights one particular area of concern. This month’s spotlighted area is credit reporting complaints, which were 56% higher in July than June, according to data …

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CFPB Sues Payday Lender For Illegal Collection Tactics

The Consumer Financial Protection Bureau announced today that has filed suit against an offshore online payday lender, NDG Enterprise, for collecting money from borrowers that it allegedly had no right to do. The CFPB named a web of other entities in its complaint, including NDG Financial Corp., Northway Financial Corp., Ltd., …

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CFPB Sends Out Debt Collection Questionnaire

From CFPBMonitor, a blog run by the law firm of Ballard Spahr, comes this post, which includes a scanned copy of a voluntary debt collection questionnaire sent out by the Consumer Financial Protection Bureau. The questionnaire is 60 questions long and is supposed to take about an hour to complete. The CFPB …

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