CFPB Agrees to Settlement with Credit Repair Companies for $2.7 Billion And Ten-Year Industry Ban

The CFPB filed a proposed stipulated judgment and order—which will take effect if approved by the federal district court—including $2.66 billion for consumer redress and $64 million in civil penalties. The companies neither admitted nor denied the CFPB's factual allegations, but they agreed to the settlement and stipulated to the entry of an order that will ban them from engaging in any activities relating to the telemarketing of credit repair services for ten years.

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Statement a Company Used an “Autodialer” Not Sufficient To Win TCPA Suit Appellate Court Holds

In Guthrie v. PHH Mortgage, Case No. 22-1248 (4th Cir. Aug. 18, 2023) an Appellate court concluded that the mere fact a business’ call center agent told a consumer an “autodialer” was used to make a call was not sufficient to win a TCPA case.

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Ninth Circuit Confirms Discrete Actions in Debt Collection Litigation can Trigger FDCPA One-Year Statute of Limitations

A panel of the U.S. Court of Appeals for the Ninth Circuit recently held that because of the timing of a filing in a collection action against a student loan borrower, his claim that debt collectors violated the Fair Debt Collection Practices Act (FDCPA) was not time-barred, reversing the lower court’s dismissal.

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VeriFacts Supports Local Businesses & Baseball, Raises Funds for Military Care Packages

STERLING, Ill. -- VeriFacts, a leading data provider for the financial services industry, showed their support for their local Sauk Valley, Illinois community as well as active duty military this July. The team distributed Minor League Baseball tickets to the community at no cost to attend a baseball game themed around local Sauk Valley area businesses, thereby supporting local baseball and local businesses at once. The event was a hit, providing not just support for the community but also a team-building outing for VeriFacts employees and their families.

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Kentucky Federal Court Holds Furnishing Data to Consumer Reporting Agency Does Not Subject Furnisher to Personal Jurisdiction in Consumer’s Home State

A United States district court in Kentucky recently granted defendants’ motion to dismiss a case arising under the Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA) for lack of personal jurisdiction.

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7th Cir. Holds Hiring Attorney, Paying Appearance Fee, Emotional Distress Not Enough for Article III Standing

The U.S. Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a debtor’s federal Fair Debt Collection Practices Act lawsuit for lack of Article III standing. In so ruling, the Seventh Circuit held that the debtor’s hiring an attorney and paying an appearance fee, as well as alleged confusion, lost sleep, and emotional distress, were not sufficient to meet the requirements of standing.

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How to Apply Strategic Discipline to Your Collections Strategy

20 September 2023 at 02:00 p.m.

Calls. Texts. Letters. Conversational AI. Time. Channel. Preference.

It’s tempting to throw any combination of approaches to collections strategy together to see what sticks. But if you’re not disciplined in your organization’s approach, you’re leaving money on the table.

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