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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Milberg LLP Files Class Action Against NAF for Consumer Fraud and Breach of Contract by Favoring Creditors During the Arbitration Process
16 September 2009
President's Focus Shifts Back to Financial Reform, Consumer Protection
16 September 2009
FTC Details Remaining Debt Collection Litigation and Arbitration Panels
15 September 2009
Georgia Judge Rules Against State AG in Case Against Collection Law Firm
11 September 2009
Business Debt Collections: Falcon Medical Now Falcon WorldWide Debt Collection
11 September 2009
Encore Capital Group Settles Legal Dispute
9 September 2009
WebRecon LLC Adds About a Dozen New Consumer Statutes to its Watchlist
8 September 2009
ARM Industry Discusses Collection Law Changes in North Carolina
2 September 2009
Ohio Attorney General Fires Warning Shot at Debt Collectors Over Complaints
1 September 2009
UK Officials Close Down Four ARM Companies After Investigation
27 August 2009
California AG Gets $1 million Judgment Against Lender Over Collection Practices
25 August 2009
Magnum Hosts New Age of Consumer & Credit Protection, Regulation and Enforcement Webinar
25 August 2009
FTC Announces Public Forum on Proposed Debt Relief Amendments to the Telemarketing Sales Rule
24 August 2009
North Carolina Legislation Targets Asset Buyers, Impacts Debt Collectors
24 August 2009
ARM Industry Weighs Impact of Health Care Reform on Business
21 August 2009
Missouri Attorney General Blindsides Two Debt Collection Firms with Lawsuits
20 August 2009
NY AG Sues to Shut Down Collection Agency Accused of Sexual Harassment
19 August 2009
Debt Buyer to Pay $150,000 in Class Action Settlement
14 August 2009
Massachusetts Toughens Rules for Small Claims Collection Lawsuits
12 August 2009
ACA Supported Legislation Introduced in U.S. House
11 August 2009