-
Cash America will pay up to $19 million to settle allegations that it robo-signed documents, overcharged military borrowers and destroyed documents during a CFPB exam.
November 20 -
The debt collection industry is gearing up for a major shake-up as the Consumer Financial Protection Bureau looks to revamp rules that will likely cover every player in the market, from first-person creditors down to the buyers of others' debts.
November 6 -
Debt buyers should make a copy available to the court and to the defendant at the time of filing the lawsuit. This should help relieve our congested court dockets and prevent lawsuits against the wrong people in the wrong amount.
November 5 -
New York financial regulator Benjamin Lawsky is urging the state to make it harder for debt collectors to win court judgments using shoddy documentation.
October 18 -
New York financial regulator Benjamin Lawsky has proposed rules that would require improved record keeping and overhaul other practices at banks and third-party debt collectors.
July 25
A debt collector in Buffalo, N.Y., has agreed to pay $165,000 in restitution and penalties for violating consumers privacy laws in a settlement with New York Attorney General Eric Schneiderman.
Joseph Bella, who operates several debt collection companies in the Buffalo region, is accused of illegally contacting borrowers employers in search of information about their Social Security numbers, hourly wages and hiring dates. Debt collectors are prohibited from contacting borrowers employers for this kind of personal information under federal law.
Bella committed numerous other violations of the Fair Debt Collection Practices Act, according to a Thursday
Across the state, weve worked aggressively to ensure that debt collectors who exploit desperate consumers and break the law pay a price for their behavior, Schneiderman said in the release. In this case, were pleased that consumers who paid on payday loans will receive full restitution and that Bella will receive heavy penalties."
Bella will be ordered to substantially change his business practices as a result of the settlement, according to the release.
Federal and state regulators have led a charge to reform debt collection practices this year. The Consumer Financial Protection Bureau
The crackdown in New York has largely been