Debt Collection in the Post Dodd-Frank Enforcement Era
Author: John Redding.; Kirk Jensen.; Jessica Pollet.; Sasha Leonhardt.
Source: Volume 28, Number 03, January/February 2015 , pp.41-48(8)
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Abstract:
Since passage of the Dodd-Frank Act, government agencies have increasingly focused on entities operating in the debt-collection space. Where government agencies have identified practices they believe constitute unfair, deceptive, or abusive acts and practices or other violations of law in the collection of consumer debts, enforcement actions generally have ensued. The authors identify key takeaways for debt collectors from recent government actions and provide possible options regarding continued regulatory compliance.Keywords: CFPB Bulletin 2013-07; CFPB Bulletin 2013-08; creditors’ legal responsibility for third-party service providers; social media; accurate reporting; reasonable investigation; Servicemembers Civil Relief Act
Affiliations:
1: BuckleySandler LLP; 2: BuckleySandler LLP; 3: BuckleySandler LLP; 4: BuckleySandler LLP.