JUDGE GRANTS MTD IN FDCPA CLAIM THAT USING PROCESS SERVER VIOLATED THIRD-PARTY DISCLOSURE
- A District Court judge in Michigan has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the third-party disclosure provision of the law was not violated when the defendant hired a process server to serve the plaintiff with a summons and complaint in a separate collection lawsuit.
- More details here.
APPLICATION FOR DEBT COLLECTION LICENSE LEADS TO ENFORCEMENT ACTION AGAINST ONLINE LENDER
- When you’re submitting an application to get a debt collection license in Massachusetts, make sure you’re not disclosing information that state regulators are going to use against you. Online lending company Avant is learning that lesson the hard way, after disclosing in a debt collection license application that it was making small dollar loans. Maybe not such a big deal in and of itself, but back in 2021, the company entered into an Assurance of Discontinuance after being accused of violating the state’s debt collection regulations, and promised that it would not engage in any other activity without first obtaining the proper license to do so. The mistake is going to cost Avant $555,000 in fines while also being forced to reimburse any consumer with an interest rate in excess of 12%.
- More details here.
CONN.REGULATOR FINES AGENCY $10K FOR LICENSE ISSUES
- A collection operation has been fined $10,000 by the Connecticut Department of Banking for not having the proper license to collect in the state.
- More details here.
EXPERTS SHARE CONTEXT ON CASES IMPACTING ARM INDUSTRY
- Industry experts Stacy Rodriguez, David Schultz, David Kaminski, Dale Golden, Virginia Bell Flynn, and Michael Klutho provide their perspectives and analysis of the legal and compliance trends shaping the ARM industry.
- More details here.
- This series is sponsored by Bedard Law Group
WORTH NOTING: The hits and misses from last night’s Super Bowl commercials … Bizarre lifestyle laws that actually exist here in the United States … The oldest cheese shop in America is closing after more than 100 years in business … The regrets of people who took part in the Great Resignation … What it’s like flying on the world’s largest airliner … How to get a deal on a new car … I see your Puppy Bowl and raise you a Pony Bowl … What TV will look like in three years, according to industry insiders.
Music Monday, part I
Music Monday, part II
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