Debt collection

The CFPB took action Wednesday against online payment platform Dwolla for allegedly deceiving consumers about its data security practices and the safety of its online payment system. Dwolla must pay a $100,000 penalty and fix its security practices.

Ocwen Financial in West Palm Beach, Fla., is the target of a second Securities and Exchange Commission investigation into its mortgage servicing practices.

The Consumer Financial Protection Bureau announced Wednesday an application process for requests that areas not currently deemed “rural” receive that designation under federal consumer financial law.

Wisconsin Gov. Scott Walker has signed a Wisconsin Consumer Act amendment that eases rules for debt collectors and clarifies requirements for creditors to collect debts.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.

The Third Circuit Court of Appeals issued an opinion in October that could drastically expand the already swollen ranks of consumer claimants under the Telephone Consumer Protection Act. It could also make it much more difficult for businesses to successfully defend against such claims in the early stages of litigation.

DBA International has announced its Receivables Management Certification Program (CMCP) continues to be adopted within the industry with nearly 100 member companies and 200 individuals receiving certification.

Debt collection, identity theft and imposter scams were the most common categories of consumer complaints received by the FTC in 2015. Collection complaints took the top spot.

Lawmakers have introduced the Medical Debt Relief Act, designed to remove settled and paid medical debts from consumer credit reports, in the Senate and House.

The delinquency rate on first-lien mortgage loans on 1-4 unit residential properties fell at a seasonally adjusted rate of 4.77% in the fourth quarter ended Dec. 31. It marked the lowest level since Q3 2009.