Clear and Present Danger?: New Ruling Highlights TCPA Perils Faced by Providers of Autodialer and Mass Message Services
For the first time since January, all lawsuit categories were up in April (FDCPA +11.5%, FCRA +22.3%, TCPA +1.7%) though CFPB complaints were down (fairly dramatically at -21.3%) from the prior month. FDCPA (-8.3%) and TCPA (10.9%) are still trending down YTD while FCRA is back trending up YTD (+5.3%) after briefly dipping into negative YTD territory last month.
The Consumer Financial Protection Bureau (CFPB) on Tuesday proposed a rule meant to curb harassment by debt collectors with hard limits on how and when debtors can be contacted by collection agencies. The proposal from the CFPB also bars debt collectors from taking certain actions that could harm debtors’ credit ratings or lead to costly litigation between debtors and collectors.
Consumer Financial Protection Bureau Proposes Regulations to Implement the Fair Debt Collection Practices Act
(CN) – An agency with limited quasi-judicial powers is constitutional, despite having a director – currently President Donald Trump appointee Kathy Kraninger – who can only be removed by the president for inefficiency, neglect of duties or malfeasance, the Ninth Circuit ruled Monday. At issue is the Consumer Financial Protection Bureau, which was created in 2010 through passage of the Consumer Financial Protection Act by Congress. The bureau is housed in the Federal Reserve, but has the authority to investigate and administratively punish financial wrongdoing.