Debt collectors are regulated by the FTC on the federal level. At the state level, attorneys general are typically responsible for enforcing state and federal laws. A few local governments also separately regulate debt collectors. The laws that govern the ARM industry are civil, meaning that liability is almost always monetary. So a state’s attorney general will not file criminal charges against a debt collector accused of violating the law, rather, he/she will sue for damages. Collection laws include federal and state statutes that govern the proper operation of companies and personnel that work in the debt collection industry. The most comprehensive collection law is the Fair Debt Collection Practices Act (FDCPA). Other federal laws that collectors must follow include the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the data security requirements of the Gramm–Leach–Bliley Act (GLBA).
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China says No Timetable to Raise Foreign Bank Ownership Caps
25 May 2007
?Debt Elimination? Defendants Settle FTC Charges
24 May 2007
Fed Plans to Revise Credit Card Rules
24 May 2007
U.S. House Passes Bill Banning Industrial Banks for Retailers
22 May 2007
State House wants Limits on Utilities' Bill Collection Practices
17 May 2007
Lawmakers Consider Consumer Protections on Cell Phone Billing
16 May 2007
Senators Introduce Aggressive Credit Card Lender Legislation
16 May 2007
Supreme Court eDiscovery Ruling Impacts Data Management Strategies for Businesses
16 May 2007
Economist: Fed Could Cut Interest Rates By Fall
14 May 2007
State Passes Bill Enabling it to Act as Debt Collector for Medical Bills
14 May 2007
Massachusetts House Passes Identity Theft, Credit Freeze Bill
10 May 2007
House Adopts Crackdown on Student Loan Business
10 May 2007
State Senate Approves Do Not Call Enforcement
8 May 2007
Venezuelan President Threatens to Nationalize Banks
4 May 2007
Judge Blocks Sale of LaSalle to Bank of America
4 May 2007
European Central Bank Proposes Credit Card Payment Framework for all of EU
3 May 2007
State Senate Panel Debates Bill Allowing Collectors to be Recorded
30 April 2007
HIPAA and Medical Collections: Staying Compliant Worth the Hassle
27 April 2007
NY AG Testifies Before House Committee On Student Loan Industry
26 April 2007
Bill Would Bar Monthly Limits On Credit Debt Payments
25 April 2007