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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New Mexico Settles Case Against Debt Collection Agency
29 August 2008
Citi to Pay $18 million in California Settlement Over Credit Card Practice
27 August 2008
Bank Earnings Down 87 percent, More Failures May Be Coming: FDIC
27 August 2008
West Virginia AG Settles with Five Collection Agencies
26 August 2008
U.S. Comptroller Opposes Many Fed Changes to Credit Card Rules
25 August 2008
Fed Chairman Eases Jitters Over Inflation
22 August 2008
Tax Law Favors Small Business Owners Even in Slow Economy
21 August 2008
New Book Reveals How Unprecedented Bank Deregulation Helped Ignite Credit Crisis
20 August 2008
FTC Issues Rule on Prerecorded Calls for Marketers; ARM Not Impacted
20 August 2008
State Revokes Registration of Collection Agency
18 August 2008
Amerigroup Settles Federal and State Medicaid Fraud Claims for $225 Million
15 August 2008
Illinois AG Announces Proposed Changes for Credit Cards
15 August 2008
Al Franken Proposes Sweeping Changes to Bankruptcy and Credit Card Laws
14 August 2008
NCFE CEO Sentenced to 10 years for Bribery, Obstruction of Justice
12 August 2008
Three California Hospitals Used Homeless to Bilk Medicaid Programs: Suit
11 August 2008
Collection Agency Responds to Texas AG Action
8 August 2008
Proposed Credit Card Rule Changes Get High Profile Comments on Last Day
7 August 2008
Feds Charge 11 in Theft of 40 Million Credit Card Accounts
6 August 2008
FDIC Closes Another Bank, Announces Asset Sale for Others
4 August 2008
Consumer-Friendly Credit Card Bill Passes House Committee
1 August 2008