Collection, Credit Lawsuits Rise in September
Consumer litigation against debt collectors jumped in September after an August slowdown.
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A New York federal judge erred in ruling a collection agency did not violate the Telephone Consumer Protection Act, an appeals court ruled Thursday. more »
Legal and Debt Recovery, an Orange, Calif.-based collection agency, and the agency's legal counsel, D. Scott Carruthers, have been issued a cease-and-desist order by the Idaho Department of Finance. more »
Kirit Patel, the owner of a company that purported to be a collection agency, has pleaded guilty to four counts of mail fraud and wire fraud after allegedly bilking consumers out of more than $5 million. more »
ACA International, the largest trade group for the credit and collection industry, issued a statement Tuesday regarding the regulation of debt collection attorneys’ litigation activities. more »
The U.S. Court of Appeals for the Fourth Circuit has issued an unpublished opinion in Lynn v. Monarch Recovery Management Inc. that supports a ruling that the agency violated the Telephone Consumer Protection Act. more »
The company attempted to claim tribal jurisdiction to avoid enforcement action. more »
The order is part of a settlement with the company's owner in an unrelated fraudulent payment processing case. more »
The Consumer Financial Protection Bureau responded Friday to collection law firm Frederick J. Hanna & Associates' motion to dismiss a lawsuit that charges the firm with operating a collection lawsuit mill. Parts of the response likely will draw the collection industry's ire. more »
Online payday lenders operate a Wild West marketplace full of financial fraud and consumer abuses, according to a new report released by the Pew Charitable Trusts. more »
BANKS' LIABILITY: "It is not a stretch to be concerned that the CFPB would impute liability on" banks for the actions of their debt collectors, said banking attorney Caren Enloe.
Just when it seemed that some banks might be putting their legal woes behind them, another threat has emerged that could involve the entire industry — debt- collections litigation. more »
New York's top banking regulator has the power to regulate online lenders owned by Native American tribes, the U.S. Court of Appeals in New York ruled Wednesday. more »
A lawsuit filed Wednesday by New York Attorney General Eric T. Schneiderman's office accuses two law firms and their lead attorney of participating in a fraudulent mortgage rescue scheme. more »

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