FDCPA Suit Targets Third-Party Disclosures and Implied Lawsuit Threats
- One of the earliest lessons that people in collections learn is to not say something unless you intend to follow through on it. A collection operation is facing claims of violating the Fair Debt Collection Practices Act, state law in Arkansas, and invasion of privacy for allegedly texting the brother and sister of the plaintiff and informing them about the existence of a debt and for sending text messages to the plaintiff directly implying that a collection lawsuit was going to be filed when it had no intention of doing so, according to the complaint, which also named the owner and manager of the collection operation as a defendant.
- More details here
- This series is sponsored by WebRecon
TD Bank’s AI Cuts Processing Time From 15 Hours to Three Minutes
- TD Bank Group has crossed a threshold that most financial institutions are still approaching from a distance. Canada’s second-largest bank has deployed a live agentic AI model inside its mortgage and home equity lending operations, compressing a 15-hour manual underwriting task down to under three minutes.
- More details here
Appeals Court Reverses TCPA Class Action Into Arbitration
- The Court of Appeals for the Fourth Circuit has reversed a district court’s refusal to compel arbitration in a Telephone Consumer Protection Act class action, finding that a health insurance marketing company qualifies as a third-party beneficiary of an online agreement between the plaintiff and a lead generation service and can therefore enforce that agreement’s arbitration clause.
- More details here
Judge Dismisses Pro Se FCRA Suit Against Bank
- A District Court judge in Massachusetts has granted a bank’s motion to dismiss a pro se consumer’s Fair Credit Reporting Act complaint, finding the plaintiff lacked standing and failed to allege facts sufficient to trigger the furnisher’s duty to investigate.
- More details here
New York Regulators Warn Financial Firms to Bolster Cyber Defenses as AI and Geopolitical Risks Mount
- New York’s Department of Financial Services is putting regulated financial entities on notice: when the threat environment intensifies, minimum compliance is not enough.
- More details here
Wisconsin Appeals Court Affirms Dismissal of FDCPA, State Law Claims Over Attorney Involvement and Fee Demands
- A Wisconsin appellate court has affirmed the dismissal of a consumer’s claims under the Fair Debt Collection Practices Act and the Wisconsin Consumer Act, rejecting arguments that a collection law firm’s attorney was not meaningfully involved in preparing collection communications and that demands for unadjudicated legal fees were misleading.
- More details here
WORTH NOTING: How leadership inside revenue cycle management leadership teams has evolved … The Consumer Financial Protection Bureau has a new home in Washington, D.C. … Consumers aren’t falling head over heels for the new digital price tags in grocery stores … Why you may want to think twice before leaving for a job with higher pay … ChatGPT can now look into your bank account and help you with your finances … The secret to winning on Jeopardy … Extended warranties are almost never worth it … How long you sleep can be linked to how long you live.
Funny Friday, part I
Funny Friday, part II
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