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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ARM Firms to Get New Regulator Under Treasury Proposal Issued this Week
1 July 2009
Patients? Ability to Pay and Federal Healthcare Reform Are Greatest Challenges to Hospitals: MedAssist Survey
29 June 2009
Credit Repair Operation Settles with FTC; Company Made False Claims and Charged Illegal Up-Front Fees
29 June 2009
FTC Seeking Public Comment on Debt Collection Litigation for Workshop
29 June 2009
Proposed Consumer Financial Protection Agency May Oversee FDCPA Enforcement
25 June 2009
NY Attorney General Arrests Buffalo Collection Agency Owner; Shuts Down Operations
24 June 2009
New York AG to Make Announcement on Debt Collection Probe
23 June 2009
FDCPA Cases Brought By Consumers Creates New Market Aimed at Collectors
22 June 2009
TransUnion Alerts Collectors of Accounts Involved in Collection Litigation
22 June 2009
Parascript Signature Verification Technology Used by Moscow Law Firm to Detect Signature Fraud in $160,000 Debt Collection Case
22 June 2009
CBA President Comments on President Obama?s Plan for Financial Regulatory Reform
18 June 2009
As President Stands to Grant More Powers, Fed Faces Numerous Attacks
17 June 2009
Halo Debt Solutions Supports Push Toward Industry Regulation
16 June 2009
New Jersey Settles with Medical Collection Agency
16 June 2009
Obama to Propose Federal Reserve as Super-Regulator in Reforms
15 June 2009
Minnesota Dept. of Commerce Suspends Collection Agency?s License
12 June 2009
ARM Industry Gets Face Time with Lawmakers on Health Care Reform Proposals
12 June 2009
Supreme Court Agrees to Hear Challenge to Bankruptcy Reform Law Provision
9 June 2009
ACA Submits New Comments in Response to Proposed Rule by New Mexico AG Regarding Collection of Time-Barred Debt
9 June 2009
Eltman, Eltman & Cooper: The Nation's Leading Judgment Enforcement Firm
5 June 2009