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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Democrats Send Letter to Obama Calling for IRS Private Collection Shutdown
18 December 2008
How the New Red Flag Rules Impact Your Business
16 December 2008
Legal Ruling Further Muddies Waters on Third-Party Disclosure vs. Mini-Miranda
12 December 2008
Court Rules Against Debt Collector in Cell Phone Collection Case
9 December 2008
Big 3 Automakers Begging for $34 billion; Congress Eyeing $15 billion
8 December 2008
NCO Group to Pay Texas $250,000 in Collection Settlement
8 December 2008
Fed Helps AIG Take Risky Loans Off its Balance Sheet
4 December 2008
Americans Want More Regulation for Banks: Harris Poll
3 December 2008
FDIC Eases Rules on Failed Bank Asset Purchases
1 December 2008
Government to Spend $200 billion to Unclog Consumer Lending Market
26 November 2008
Bank Earnings Down 94 Percent in the Third Quarter: FDIC
26 November 2008
U.S. Bank Acquires All the Deposits of Two California Banks through FDIC
24 November 2008
Debt Collection Agency Fined $2.25 million by FTC
24 November 2008
Nevada Proposes New Collection Agency Regulations
21 November 2008
Unrealistic Collection Expectations Drive Consumers to Debt Settlement
20 November 2008
Sen. Max Baucus Gets Debate Going on Capitol Hill with Health Reform Plan
18 November 2008
Regulations Limit Scope of 36-Month Rule Relating to 1099-C Reporting: ACA
18 November 2008
FTC Charges 10 Internet Payday Lenders with Deceptive Lending and Collection Tactics
17 November 2008
Paulson Discusses Changes in Bailout Focus
14 November 2008
Bailout Plan Growing Beyond Original Constraints
12 November 2008