E.D.N.Y. Decides “Settlement May Have Tax Consequences” is an Acceptable 1099C Disclosure

Almost two years after the 1099C disclosure issue hit the industry, the Eastern District of New York finally finds that a disclosure stating a “settlement may have tax consequences” does not violate the FDCPA. Ceban v. Capital Management Services, L.P., 2018 WL 451637 (Jan. 17, 2018 E.D.N.Y.)

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News and Opinion

from insideARM.com

» National Loan Exchange, Inc Receives SOC 2 Type I Attestation

» On Second Thought...CFPB Continues to Back Off; Dismisses Case Against Payday Lenders

» E.D.N.Y. Decides “Settlement May Have Tax Consequences” is an Acceptable 1099C Disclosure

» Joel McKiernan Elevated at Credit Management Company

» Mulvaney Makes Quarterly CFPB Budget Request from Fed; Asks for $0

» PDCflow Named to Capterra List: Top 20 Most Affordable Digital Signature Software

» Manage Rising Self-Pay Account Volumes with These 3 Key Disciplines

» CFPB to Undertake Comprehensive Review of All Functions

On Second Thought...CFPB Continues to Back Off; Dismisses Case Against Payday Lenders

Last Thursday the Consumer Financial Protection Bureau (CFPB) dismissed the case it had filed in April 2017 against four payday lenders. No reason was given. The case is CFPB v. Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial, Inc. and Majestic Lake Financial, Inc. (Civil Case No. 2:17-cv-02521-JAR-JPO)

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insideARM Jobs

» Director of Operations Collections - Vital Solutions - Norcross, GA

» Director of Operational Support - Sequium Asset Solutions - Marietta, GA

» Collection Specialists - Zwicker & Associates, P.C. - Andover, MA

» Sr. Corporate Counsel, Litigation - Resurgent Capital Services - Greenville, SC

» Collector - Silverman Theologou, LLP - North Bethesda, MD

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The First Party Summit - A New Kind of Conference

4 June 2018 at 06:00 p.m.

The industry's first-ever and only Summit focused totally on the unique challenges of First Party Collections, Outsourcing, and Customer Care.

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Free Reports and Webinars

from insideARM.com

» Embracing Change in the Digital Age: Automated Redaction & Indexing Solutions

» The Growing Role of AI in Consumer Payments

» CFPB’s Newest Rule Highlights a Need for Compliant Payment Processing

» Collect More, Spend Less: an ROI Guide to Collecting Through Digital Channels

» Omni-Channel Communications: Compliance and Opportunities

» Buyer's Guide to Right-party Contact Data

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