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).
Filter by Location
Obama Impact on ARM Industry Debatable
11 November 2008
WWR Partner Chuck Pona Admitted to Practice Before U.S. Supreme Court
5 November 2008
NCFE's Poulsen Convicted of Fraud
4 November 2008
Debt Settlement Companies Largely Ignored by Banks
3 November 2008
Banks Line Up for Government Money
28 October 2008
FTC and State Agencies Target 36 'Credit Repair' Operations
27 October 2008
FTC Will Delay Enforcement of 'Red Flags' Rule to May 1
24 October 2008
West Virginia AG to Cancel $6.6 million in Card Debt in Settlement with Debt Buyer
23 October 2008
Oregon Shutters Debt Collection Agency
20 October 2008
$28 Million FTC Settlement with Bear Stearns/EMC Mortgage has Significant Impact on ARM Industry
16 October 2008
Financial Markets React to Intervention; U.S. to Take Stakes in Banks
14 October 2008
Private Student Loans Hard to Get in Credit Crunch
13 October 2008
AIG Gets $37 Billion More From Government
10 October 2008
Global Central Banks Intervene; Fed Cuts Interest Rates
8 October 2008
State AG Sues Florida Telecom Collection Agency
7 October 2008
Financial Bailout Will Hamper Next President?s Health Care Reform Efforts
7 October 2008
Bailout Gives Government 60 Day Ultimatum to Help Homeowners
6 October 2008
Justice Department Settles Capital One Debt Collection Complaint
3 October 2008
Bailout Bill Passes in Senate
2 October 2008
New York Passes Bill to Close Debt Collection ?Loophole?
2 October 2008