by Jeff Sovern The landing page is here. Here is an excerpt from one story, Kicking in Doors and Crushing Credit: How Rent-A-Center Torments Customers, though other stories on the web site merit attention, and there is more to this one than we can include here: Virginia real estate investor Olivia Quinn says she lost her […]
Category Archives: Debt Collection
Yonathan A. Arbel of Alabama has written Adminization: Gatekeeping Consumer Contracts, Vanderbilt Law Review, Forthcoming. Here's the abstract: Large companies and debt collectors frequently file unmeritorious claims against consumers. Recent high-profile actions brought by the Consumer Financial Protection Bureau (CFPB) against JP Morgan, Citibank, and large debt collectors illustrate the breadth and importance of this phenomenon. Due to […]
by Jeff Sovern Here, in The News-Press. Debt buyers use small claims courts to get judgments to enforce debts even though it is not clear how often those debt buyers can prove the facts pertaining to the debt. Excerpt: Of more than 1,800 small claims cases filed in Lee County over the first five months […]
The hearing was held by the House Financial Services Committee Subcommittee on Financial Services and Consumer Credit. The ACA has a report here. Nine bills were under discussion. Excerpt: “Just to give everyone an idea, H.R. 864, the Stop Debt Collection Abuse Act, was a bipartisan effort on behalf of myself, [U.S. Reps. Keith Ellison, […]
by Jeff Sovern As we reported a couple weeks ago, the Supreme Court ruled in Henson v. Santander that debt buyers are not automatically debt collectors under the Fair Debt Collection Practices Act. However, debt buyers which have debt collection as the principal purpose of their business should still qualify as debt collectors under the statute (the […]
by Jeff Sovern Our consumer law casebook strives to present a balanced approach, so I am always on the lookout for writings that present debt collectors favorably. In that regard, The Economist recently published In praise of America’s third-party debt collectors. Here's an excerpt: A provocative new paper by Julia Fonseca, of Princeton University, and Katherine Strair and Basit Zafar, […]
by Jeff Sovern Here. Disclosure: I was one of the podcast speakers.
Here. It might even happen by the end of this year. Excerpt: "Creditors should be responsible since they are our customers," said Dong Hong, vice president and senior counsel at the Consumer Bankers Association. "For the most part, we're fine with the disclosure regime the CFPB is creating.