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On July 16, the New York State Department of Financial Services (DFS) proposed revised debt collection regulations for third-party debt collectors and debt buyers. The rules seek to clarify the required initial disclosures by debt collectors, disclosures for debts in which the statute of limitations may be expired, substantiation of consumer debts, debt payment procedures,
The Consumer Financial Protection Bureau has announced a new proposal that will allow consumers the option to share a narrative of “what happened” in the CFPB’s public-facing Consumer Complaint Database. According to the CFPB, this new feature would “empower consumers to publicly voice their complaints about consumer financial products and services” and “provide important context
The Consumer Financial Protection Bureau has announced an interpretive rule to assist heirs who, due to the death of a mortgagor, acquire title to a property and take over the mortgage. Specifically, the interpretative rule clarifies that heirs may be added to a mortgage without prompting the Ability-to-Repay rule, which took effect in January 2014.
Consistent with its expansive view of constitutional standing, the Ninth Circuit recently held that a plaintiff has constitutional standing under the Fair Debt Collection Practices Act to sue for a misrepresentation that was never actually communicated to him.
In Tourgeman v. Collins Financial Services, Inc., the plaintiff brought a class action lawsuit against multiple
The Consumer Financial Protection Bureau filed a lawsuit on July 14, 2014, in Atlanta federal court against a Georgia-based firm, Frederick J. Hanna & Associates, and its three principal partners for operating an alleged “debt collection lawsuit mill that uses illegal tactics to intimidate consumers into paying debts they may not owe.” The CFPB claimed
In Badeen v. PAR, Inc., et al., the Michigan Supreme Court expanded the definition of “collection agency” under Michigan’s Occupation Code to include forwarders and forwarding companies.
The plaintiff collection agency brought an action against a number of automobile lenders and forwarding companies alleging that the forwarders were operating as “collection agencies” under
In IKO Roofing Shingle Products Liability Litigation, the Seventh Circuit Court of Appeals reversed a denial of class certification in a products liability multidistrict litigation on the grounds that the plaintiffs’ two damages theories complied with the U.S. Supreme Court’s holding in Comcast Corp. v. Behrend, even though these theories would not allow
On July 16, the New York State Department of Financial Services (DFS) proposed revised debt collection regulations for third-party debt collectors and debt buyers. The rules seek to clarify the required initial disclosures by debt collectors, disclosures for debts in which the statute of limitations may be expired, substantiation of consumer debts, debt payment procedures,
In a novel ruling, the Ninth Circuit expressly adopted an opinion from the Federal Communications Commission, finding the potential for vicarious liability under the Telephone Consumer Protection Act. In Thomas v. Taco Bell Corp., No. 12-56458 (unpublished), the Ninth Circuit affirmed a lower court’s holding that Taco Bell was not vicariously liable under the