SOL Accrues When Collection Suit Served, Says Court

The statute of limitations in collections cases is crucial but complex. This statement applies equally to lawsuits filed to collect debts and to suits brought by consumers who allege a violation of the Fair Debt Collection Practices Act (FDCPA). Recently, a court in the Southern District of Georgia held that the triggering date for the statute of limitations in an FDCPA action against a debt collector was the date a consumer was served with the debt collector’s underlying debt collection suit, not the date the suit was filed.

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NY Federal Court Denies Motion to Dismiss CFPB Lawsuit Against Debt Buyer Companies And Their Owners/Officers For Unlawful Debt Collection Practices Based On Third-Party Conduct

A New York federal district court has denied a motion to dismiss the lawsuit filed in January 2022 by the CFPB against three companies that purchase portfolios of defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants).

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Revenue Group Hires Chris Taylor as New Chief Information Officer

CLEVELAND, Ohio -- Revenue Group welcomes Chris Taylor as its new Chief Information Officer. Chris spent the last eighteen years as the Director of Operations and Technology followed by the Controller and CIO at National Enterprise Systems (NES). Starting in IT, he progressed to become a dual professional in Financial Services and Information Technology, taking a special interest in debt collections.

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Arrears Unveils Innovative A.I. Summarizer, Elevating Collection Strategies and Business Insights

Arrears Inc., the leading name in AI-driven debt collection and account receivables solutions, proudly announces the launch of its cutting-edge A.I. Summarizer. This groundbreaking feature is engineered to empower collection agencies and businesses with instant information, bringing to focus key data that significantly enhances their ability to tailor effective strategies with pinpoint precision.

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CFPB and FTC File Amicus Brief Urging Second Circuit to Find FCRA Requires Unverified Information to be Deleted from Consumer Report

On September 28, 2023, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) (collectively, the agencies) filed an amici curiae brief urging the U.S. Court of Appeals for the Second Circuit to reverse a district court’s decision finding a furnisher’s investigation of a consumer’s dispute and subsequent furnishing of the disputed information to be reasonable under the Fair Credit Reporting Act (FCRA).

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After Oral Argument, Justices Seem Likely to Preserve CFPB Funding

The CFPB appears well poised to rebuff a challenge to its funding structure after the Supreme Court held oral argument on the issue on October 3.  I attended the oral argument and summarized some of my observations, thoughts, and predictions here.

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Work Smarter, Not Harder - Keeping Tabs On Laws, Rules, and Regs (and keeping ops looped in)

25 October 2023 at 02:00 p.m.

Laws are constantly changing. State and Federal Regulators continue to pass new rules, and already established laws continue to get clarified through the court systems. Legal compliance is never static; it is always dynamic. In the ARM industry, legal changes filter through and affect every part of an organization. Staying on top of these changes and ensuring all relevant parties within an organization get updates can seem like a never-ending task.

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