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CFPB rule gives renters right to sue debt collectors over evictions
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CFPB rule gives renters right to sue debt collectors over evictions
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On April 6, the Consumer Financial Protection Bureau (CFPB) issued a
consent order against California-based debt collector Yorba Capital Management LLC and its sole owner Daniel Portilla, Jr. for violating the Consumer Financial Protection Act and the Fair Debt Collection Practices Act. The consent order permanently bans Yorba and Portilla from the debt collection business and orders restitution and penalties to resolve the findings of the CFPB.
The consent order states Yorba and Portilla allegedly harassed consumers from January 2017 until April 2020 by threatening legal action. Specifically, it states Yorba attempted to collect debts through mailing letters titled “LITIGATION NOTICE” that contained a case number and caption, giving the incorrect impression that Yorba had already filed a lawsuit. The letters stated: “You are hereby notified that a recommendation to file a lawsuit to collect this debt may be the next step resulting in a judgment entered against you,” and
Why You Need an FCRA Compliance Manual and What It Should Include Published on: 14 April 2021 at 11:00 a.m. ET April 14, 2021, 11 a.m. April 14, 2021, 10:08 a.m. insideARM.com The iA Institute
http://www.insidearm.com/news/00047257-why-you-need-fcra-compliance-manual-and-w/
This article, authored by Joseph Messer, originally appeared on the Messer Strickler, Ltd. Blog and is republished here with permission.
Fair Credit Reporting Act (FCRA) lawsuits have been on the rise. In 2020, FCRA lawsuits increased by 5.3% over 2019, outpacing lawsuits filed under the Fair Debt Collection Practices and the Telephone Consumer Protection Act, which were down -17.6% and -3.3%, respectively.1 This trend will likely continue, and with the Consumer Financial Protection Bureau stepping up enforcement actions it is more important than ever for background screeners to review and improve their FCRA compliance procedures. This should start with a FCRA Compliance
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The CFPB proposed delaying, from November 30, 2021
to January 29, 2022, the effective date for two final rulemakings
amending Regulation F, which implements the Fair Debt Collection Practices Act. Both
rulemakings govern the activities of debt collectors.
In October 2020, the CFPB adopted a final rule in connection with
the use of communications related to debt collection. The
rulemaking clarified prohibitions on misleading representations,
harassment and abuse, and unfair debt collection practices. In
December 2020, the CFPB adopted a final rule clarifying disclosure
obligations for debt collectors at the beginning of collection
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