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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FTC Workshop: Done Deal?
2 October 2007
Moody?s Says ED Bill Will Impact Student Loans
2 October 2007
NetBank Closed by Federal Regulators
1 October 2007
Consumer Group to Demand FDCPA Changes at FTC Workshop
21 September 2007
ARM Industry Well-Represented at FTC FDCPA Workshop
20 September 2007
Fannie Mae Expects Multiple Fed Rate Cuts
12 September 2007
New Student Loan Bill Could Foul Sallie Mae Buyout
6 September 2007
Illinois Follows FDCPA Under New Law
30 August 2007
Uniform State Rule for Debt Managers on Horizon
24 August 2007
ACA Details State Legislative Action
20 August 2007
NY AG Announces $4.5 million Settlement in Subprime Credit Card Probe
16 August 2007
Collection Agency President Named to Virginia Privacy Working Group
15 August 2007
Credit Card Purchasers and Collectors Face PCI Security Standard
1 August 2007
FTC Remains Top Cop as ACA Floats Self-Reg Concept
31 July 2007
House Dem to Offer Credit Card Legislation this Week
31 July 2007
ACA Ponders Self-Regulatory Authority
30 July 2007
Both Sides Respond to FTC Minority Credit Score Report
30 July 2007
FTC Leader Speaks to ACA Convention on Workshop, Complaints
27 July 2007
Senators Go After Non-Profit Student Lender
25 July 2007
Senate Finance Staff Recommends FDCPA for Hospitals
23 July 2007