Merchant

An estimated 712 different collection agencies and creditors are named in 851 consumer statute lawsuits filed nationwide in January, according to data from U.S. District Court complaint dockets. The monthly total includes 716 cases citing violations of the Fair Debt Collection Practices Act (FDCPA), up from 551 in January 2009. The number of Fair Credit Reporting Act lawsuits actually dropped last month, to 77 from 109 cases in January 2009.

In today’s economy, merchants still want to know how much credit and debit card processing is going to cost, but independent sales organizations say price is only one part of the sales pitch. Listening to what the merchant says it needs can be equally as important in securing the deal.

Debt buying and collection industry leaders have aggressively lobbied lawmakers to nix - or at least revamp - the Consumer Financial Protection Agency blueprint, which would consolidate financial industry oversight.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

Nearly 25,000 consumers deceived in a collections scam operated by three companies, using the name National Check Control, will receive $1.6 million, Federal Trade Commission spokesperson Claudia Bourne Farrell tells Collections & Credit Risk.

Automated clearinghouse transaction processor ACH Federal LLC, is introducing a merchant-referral partner program for independent sales organizations in the hopes of expanding its client base, according to the Chattanooga, Tenn.-based company.