Debt collectors are regulated by the FTC on the federal level. At the state level, attorneys general are typically responsible for enforcing state and federal laws. A few local governments also separately regulate debt collectors. The laws that govern the ARM industry are civil, meaning that liability is almost always monetary. So a state’s attorney general will not file criminal charges against a debt collector accused of violating the law, rather, he/she will sue for damages. Collection laws include federal and state statutes that govern the proper operation of companies and personnel that work in the debt collection industry. The most comprehensive collection law is the Fair Debt Collection Practices Act (FDCPA). Other federal laws that collectors must follow include the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the data security requirements of the Gramm–Leach–Bliley Act (GLBA).
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insideARM Weekly Recap – Week of July 15th, 2024
22 July 2024
insideARM Weekly Recap – Week of June 24th, 2024
1 July 2024
insideARM Weekly Recap – Week of June 17th, 2024
24 June 2024
Indiana Appeals Court Rules That a Passive Debt Buyer Is a Debt Collector under the FDCPA and State Law
19 June 2024
insideARM Weekly Recap – Week of June 3rd, 2024
10 June 2024
insideARM Weekly Recap – Week of May 27th, 2024
3 June 2024
Controversial Minnesota Debt Fairness Act Signed into Law
23 May 2024
FTC Issues Report on Collaboration with State Attorneys General
30 April 2024
insideARM Weekly Recap- Week of April 22nd, 2024
29 April 2024
NCLC's Influence on State Law Policy: 3 Things You Should Know
25 April 2024
CFPB Order Makes it Clear: Nonbanks Should Prepare for CFPB Supervision
2 April 2024
Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency and Other Financial Services Licenses
22 January 2024
SCOTUS Slated to Make Lasting Impact on Consumer Financial Services Industry in 2024
10 January 2024
Avoid CFPB Fines/FCRA Violations with Proven Strategy
8 January 2024
Early Notice of Judgment Renewal Not Allowed, Says 9th Cir.
3 January 2024
CFPB Fall 2023 Rulemaking Agenda Indicates Imminent Issuance of Final Credit Card Late Fees Rule and Proposed Rules on Overdraft and NSF Fees
14 December 2023
$225,000 Punitive Damages Award Upheld Where Creditor Repeatedly Contacted Customer After Being Notified of Attorney Representation
6 December 2023
CRC to NYC DCWP: Proposed Rule Misses the Mark, is Unclear, and Will Harm Consumers
5 December 2023
NYC Proposes Amendments to Debt Collection Rules; Comments Due by Nov 29th
19 October 2023
Oregon Enacts Comprehensive Consumer Data Privacy Act with Limited GLBA Exemption
7 August 2023