On January 13, 2022, the CFPB released a bulletin to remind debt collectors of their obligations under the No Surprises Act, which protects consumers from certain unexpected medical bills. The bulletin reminds companies that if they attempt to collect on prohibited debts, they face potential liability under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA).
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MINNETONKA, Minn. -- Central Portfolio Control (CPC), a debt collection agency in the western suburbs of Minneapolis, MN, helped the less fortunate this holiday season through an initiative to assemble and distribute care packages for people experiencing homelessness in the area. The Twin Cities of Minneapolis and Saint Paul, just a short drive East from CPC’s headquarters, have an ongoing need for homeless assistance and resources, particularly during the winter as the temperatures routinely dip well below freezing.
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On December 31, 2021, New York Governor Hochul signed into law S5724-A which
reduces the annual rate of interest on judgments arising out of a consumer debt
where the defendant is a natural person from 9% to 2%. The laws take
effect 120 days from the Governor’s signature, which is April 30, 2022.
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