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Collections Operation Halted After Pursuing Fraudulent Strategy: Regulators
A U.S. district court on Monday halted a Buffalo, N.Y.-based collection agency from doing business, froze the operation's assets and appointed a temporary receiver to take over the defendants' business pending trial.
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The CFPB filed a lawsuit Monday against Georgia-based Frederick J. Hanna & Associates and its three principal partners for operating a collection lawsuit mill that uses illegal tactics. more »
Brownsville, Texas is getting close to joining 18 other cities in Texas in passing a law regulating payday and auto title lenders, city officials report. more »
The operators of the scheme the falsely promised to help consumers get loans, but instead used personal financial data to take money from bank accounts without consent, have settled FTC charges. more »
"When borrowers could not pay back their loans, ACE would subject them to illegal debt collection threats and harassment," the CFPB's Cordray said.
WASHINGTON — The Consumer Financial Protection Bureau has yet to issue broad rules for payday lenders, but the bureau's $10 million settlement with ACE Cash Express Thursday sends another strong message about the practices it may target. more »
Amazon.com is accused in a lawsuit filed Thursday of billing customers millions of dollars in charges racked up unknowingly by children. more »
The Texas-based lender, charged with various illegal debt collection tactics, has responded to the action. more »
Australian financial authorities have updated a publication that is partly geared to ensuring collection activity is handled in keeping with the country's consumer protection laws. more »
A debt collection telephone scam in West Virginia is targeting consumers by summoning them to court over unpaid credit card accounts - debt that in most cases apparently does not exist. more »
Collection law firm Pressler and Pressler violated the Fair Debt Collection Practices Act by not conducting a "meaningful review" of a collection action filed against a consumer, a U.S. district judge has ruled. more »
The Federal Trade Commission added new charges of mobile cramming to a complaint filed against an operation that allegedly sent millions of unwanted text messages and robocalls to consumers. more »
Idaho's Payday Loan Act, designed to dictate how much payday lenders can give borrowers, went into effect Tuesday. more »
T-Mobile USA Inc. was charged Tuesday with making hundreds of millions of dollars by placing charges on phone bills for purported "premium" subscriptions that, in many cases, were bogus charges and never authorized by customers. more »

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