Hopefully the End of the Debt Itemization Circus? 7th Cir. and CFPB Side with Debt Collector

We've seen a lot of court decisions on the interest disclosure claim over the past couple of years, but it's always noteworthy when a Circuit Court of Appeals and the Consumer Financial Protection Bureau (CFPB) speak on the issue. We've had many appellate decisions, including several out of the Second Circuit, denying almost every iteration of the interest disclosure claim that plaintiffs and their attorneys have cooked up. Examples include Taylor, DeRosa, Klobasyuk, Gissendanner, and Dow. The Seventh Circuit has generally held that so long as the Miller safe harbor language is used when appropriate, the claims fail. A recent Seventh Circuit decision—Degroot v. Client Servs.—sides with the industry in yet another meaningful way. This time, with the CFPB filing an amici brief that, in impact, sides with the debt collector.

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» Hopefully the End of the Debt Itemization Circus? 7th Cir. and CFPB Side with Debt Collector

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Wave of Federal Lawsuits Slam Furnishers for “Inaccurate” Credit Reporting of Accounts in Bankruptcy

Consumer attorneys are manufacturing the recent surge of Fair Credit Reporting Act (FCRA) lawsuits nationwide against creditors and debt collectors that credit report on accounts included in a consumer’s bankruptcy.   Cases in this latest wave of consumer lawsuits typically assert that prior credit reporting on accounts subsequently included in a bankruptcy violates the FCRA.

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