FDCPA Suit Filed Over ‘Settlement’ Offer Made on Time-Barred Debt
- A collection operation is facing a Fair Debt Collection Practices Act debt because it offered a “settlement” to a plaintiff during a collection call that would have the plaintiff make a one-time payment for less than the full balance owed to pay off the debt. But the word “settlement” made the plaintiff believe he was either being sued to collect on the unpaid debt or about to be sued. So rather than clarify that on the phone, he opted to sue instead.
- More details here
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Judge Grants MTD in FDCPA Case Over Letter with ‘Minimum Payment’ and ‘Balance’
- Anyone who has ever had a credit card and received a statement will know that there are two amounts that matter – the balance that is owed and the minimum payment that is due. If that is not confusing to anyone, why would a collection letter that featured the same figures be? A District Court judge in Pennsylvania agrees with me and has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case.
- More details here.
PRA Group Swings to Loss in 3Q, But Points to Strong Consumer Performance Going Forward
- There is little evidence that consumers are having a difficult time making ends meet and paying their debts, according to executives at PRA Group, which shared that insight and more during a conference call with analysts this week to discuss its third quarter financial performance.
- More details here.
Citi Fined $26M for Intentionally Denying Credit Applications from Armenian Americans
- The Consumer Financial Protection Bureau on Wednesday announced an enforcement action against Citibank in which the institution will pay $26 million because it discriminated against Armenian Americans by denying credit card applications in an area of the country where many Armenians lived because it thought they were criminals who were likely to commit fraud.
- More details here.
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Funny Friday, part I
Funny Friday, part II
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