Federal Activities:
On April 22, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James filed a complaint in federal court to seize a $1.6 million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. The complaint asks the court to declare the transfer void and order the seizure and sale of the property to partially repay the debt-collector’s outstanding debt to the federal and state governments. For more information, click
On April 22, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly two million payments in the sixth batch of American Rescue Plan Economic Impact Payments. For more information, click
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3rd Cir. Holds No FDCPA Violation When Non-Interest-Bearing Debt Itemized ‘$0.00’ for Interest Published on: 21 April 2021 at 09:00 a.m. ET April 21, 2021, 9 a.m. April 21, 2021, 9:46 a.m. insideARM.com The iA Institute
and is republished here with permission.
The U.S. Court of Appeals for the Third Circuit recently affirmed the dismissal of a class action complaint alleging that a collection letter’s itemization of a debt as including “$0.00” in interest and fees when the debt could not accrue interest or fees violated the federal Fair Debt Collection Practices Act.
In so ruling, the Third Circuit concluded that the inclusion of line items listing $0.00 in the form letter’s interest and fees columns did not mislead the consumer to believe that he may owe interest or fees in the future in violation of the FDCPA’s prohibition on deceptive (§ 1692e) and unfair or unconscionable (§ 1692f) means of collecting consumer debts, ev
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POLITICO
CFPB targets debt collectors in bid to protect renters
The new rule requires debt collectors to notify tenants of their rights under the Centers for Disease Control and Prevention’s moratorium on evictions for nonpayment of rent.
A demonstrator holds up a sign that says Cancel Rent. | Michael M. Santiago/Getty Images
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The Consumer Financial Protection Bureau on Monday unveiled a rule cracking down on debt collectors to stop them from forcing renters from their homes during a nationwide eviction ban, as millions of Americans struggle with bills amid the pandemic.
The new rule requires debt collectors to notify tenants of their rights under the Centers for Disease Control and Prevention’s moratorium on evictions for nonpayment of rent. The CFPB warned that debt collectors who evict tenants could face prosecution. The agency is issuing the new rule under the Fair Debt Collection Practices Act.