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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What the ARM Industry is Currently Up Against
8 March 2010
Exploring Rising Complaints Against Debt Collectors
5 March 2010
Collection Agency Settles FTC Credit Reporting Charges for $1 million
4 March 2010
Experts Say New Credit Card Rules will Significantly Impact ARM Industry
3 March 2010
Rent-a-Center Settles Debt Collection Probe for Nearly $350,000
2 March 2010
Consumer Sues Florida Debt Collector for $800, Receives $120,000
1 March 2010
Collection Law Firm Mann Bracken to Liquidate in Receivership
1 March 2010
FTC Reports Jump in Debt Collection Complaints
26 February 2010
Numbers from the ARM Industry?s First Virtual Trade Show
26 February 2010
State AG Seizes $12 million in Assets in Debt Settlement Action
25 February 2010
ARM Industry Legislative Primer
24 February 2010
FDCPA, Other Lawsuits Stats from WebRecon
24 February 2010
Bills Introduced in State Legislature Target Debt Buyers
22 February 2010
The Ulzheimer Group, LLC Partners with WebRecon to Provide Credit Expert Witness Services to Attorneys
22 February 2010
Fed Official Details Debt Buying Industry Situation at Trade Show
19 February 2010
State AG Settles Charges Against Three Debt Collection Agencies for $404,000
19 February 2010
The Commercial Law League of America's Chicago/Spring Meeting and National Convention Kicks Off On April 29, 2010
12 February 2010
FDCPA and Other Consumer Rights Lawsuit Stats from WebRecon
9 February 2010
Manny Newburger and Fair Debt Consultants, LLC launch The Compliant Collector Training Series
9 February 2010
FTC Returns $1.6 Million to Consumers Scammed by Bogus Debt Collector
8 February 2010