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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CFPB Order Makes it Clear: Nonbanks Should Prepare for CFPB Supervision
2 April 2024
Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency and Other Financial Services Licenses
22 January 2024
SCOTUS Slated to Make Lasting Impact on Consumer Financial Services Industry in 2024
10 January 2024
Avoid CFPB Fines/FCRA Violations with Proven Strategy
8 January 2024
Early Notice of Judgment Renewal Not Allowed, Says 9th Cir.
3 January 2024
CFPB Fall 2023 Rulemaking Agenda Indicates Imminent Issuance of Final Credit Card Late Fees Rule and Proposed Rules on Overdraft and NSF Fees
14 December 2023
$225,000 Punitive Damages Award Upheld Where Creditor Repeatedly Contacted Customer After Being Notified of Attorney Representation
6 December 2023
CRC to NYC DCWP: Proposed Rule Misses the Mark, is Unclear, and Will Harm Consumers
5 December 2023
NYC Proposes Amendments to Debt Collection Rules; Comments Due by Nov 29th
19 October 2023
Oregon Enacts Comprehensive Consumer Data Privacy Act with Limited GLBA Exemption
7 August 2023
Legal Advisory Board Members Discuss Current Litigation Trends, State Issues, and Standing
8 June 2023
Legal Advisory Board Members Discuss Hunstein, the CFPB, and Omnichannel Communication
22 May 2023
Minor Procedural Errors are not an FDCPA Violation Says Court
27 April 2023
CFPB vs. PRA-Top 3 Takeaways and PRA’s Response
29 March 2023
New York DFS Tables Latest Version of Its Proposed Debt Collection Rule
23 March 2023
New Wyoming Bill Requires Licensure for Debt-Buyers
15 March 2023
Breaking Down the CFPB's Opinion on Convenience Fees [Sponsored]
8 December 2022
NYC Debt Collector Rules - Amendments Proposed; Public Hearing to be Held Dec 5th
28 November 2022
What Creditors and Medical Services Providers Need to Know About D.C.’s Amended Debt Collection Law
17 November 2022
Debunked! Four Compliance Myths and Misconceptions for Collections
29 September 2022