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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Fifth Third Mortgage Company Refinances More Freddie Mac Loans
5 May 2009
Understanding Client Financial Control and Audit Expectations at NARCA in Boston
28 April 2009
Congress Looks to Supplant Fed with Credit Card Bill Push
28 April 2009
Jesse Riddle and Manny Newburger To Reprise a Great Debate at Debt Connection Symposium & Expo 2009
27 April 2009
ABA Calls for Modifications to Mortgage Legislation in Testimony to Congress
23 April 2009
40 Percent Vote at Citi Demonstrates Strong Shareholder Support for Political Disclosure
23 April 2009
NJ Bill Would Require Collectors to Send Copies of FDCPA to Debtors
20 April 2009
NYC Collection Law Could Signal Problems for the ARM Industry
17 April 2009
WV Attorney General Sues Texas Debt Settlement Company
15 April 2009
NY Attorney General Going After Debt Collection Case Process Servers
14 April 2009
Ocwen, Leading Subprime Mortgage Servicer, Begins Modifying Mortgages Under Government's New Program
13 April 2009
Medical Management Consultants Inc. Loses Collection License
13 April 2009
Outreach Efforts Help Score Win for ACA and its Members in Card Check Battle
7 April 2009
Oregon Passes Bill Allowing State AG to Sue Debt Collection Agencies
6 April 2009
Bank of Florida Corp. Announces Plans to Withdraw TARP Application
27 March 2009
Room For Healthcare Reform in President?s Budget: Analysts
27 March 2009
FCC Asks for Comments on a Challenge to Collectors? Use of Autodialers to Contact Cell Phones
26 March 2009
West Virginia Attorney General Darrell McGraw Sues 12 Internet Payday Lenders and Collection Agencies
25 March 2009
Credit Cardholders? Bill of Rights Gets New Life in New Congress
25 March 2009
ABA Testifies on Principles for Restructuring Regulation of Financial Services
24 March 2009