Finance Law Blogs

Financial legal news and intelligence, published by law firms, lawyers and law students across the world.

Debt Collectors Cannot Engage in Conduct that Harasses a Consumer When Attempting to Collect a Debt

by Adam J Krohn November 28, 2013 Banking

The purpose of the Fair Debt Collection Practices Act (FDCPA) is to stop debt collection practices that are abusive and to protect the consumer.  Under the FDCPA, 15 USC Section 1692d, debt collectors cannot engage in conduct that is meant to harass, oppress, or abuse a person when attempting to collect a debt.  More specifically, […]

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The Consumer Financial Protection Bureau Wants to Hear from Consumers about their Bad Experiences with Debt Collectors

by Adam J Krohn November 14, 2013 BigLaw

Many people have bad experiences with debt collectors and the Consumer Financial Protection Bureau (CFPB) wants to hear about them.  They are preparing to update the rules that govern how debt collectors communicate with borrowers and they are seeking information from both debt collection companies and consumer advocates to help them prepare the new rules.  […]

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Lenders are not Required to Report to the Three Credit Bureaus

by Adam J Krohn November 13, 2013 Banking

(US law & generally) How information is supplied to the three credit reporting agencies is governed by the Fair Credit Reporting Act (FCRA). However, the law does not say that lenders are required to report any information to them. Major banks generally do report information to all the credit bureaus. Credit unions and small local […]

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Six ways to help Senior Citizens with their driving

by tracyvides November 2, 2013 Finance

Having an enthusiastic elderly driver in the family sometimes makes people wary. And that is because people often assume all kinds of unkindly things regarding senior citizens, their driving in particular being a hot button issue. Statistics don’t help either. The elderly, along with the teenagers, run the highest risk of getting killed if involved […]

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What Corporations Should Know About the FCC’s New Telemarketing Rules: Effective October 16, 2013

by Adam J Krohn October 24, 2013 BigLaw

Last year the Federal Communications Commission (FCC) adopted several very significant changes to the Telephone Consumer Protection Act (TCPA).  The changes to the regulations have become effective on October 16, 2013.  Two of the changes include: A requirement that written consent be obtained prior to a business placing a call; and The “established business relationship” […]

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Advice on Proper Collection and the Use of Mobile Phone Numbers Given by Federal Agencies

by Adam J Krohn October 18, 2013 Blawging

On September 25, 2013 the Federal Trade Commission (FTC) settled its first case that involved text messages under the Fair Debt Collection Practices Act.  This case has shown that (1) the FTC believes that “clear and conspicuous” disclosure rules are applicable regardless of the medium and technological limitations of the device; and (2) the FTC […]

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Defendants Will Pay $1 Million to Settle the First Case Brought by the FTC that Alleges Text Messages Were Used in an Illegal Debt Collection Scheme

by Adam J Krohn October 16, 2013 Banking and Finance Law

In the first Federal Trade Commission (FTC) action against a debt collector who used text messaging in their efforts to collect debts in an unlawful manner, the California based collector will pay $1 million to settle the charges that they violated federal law. It was alleged by the FTC that Archie Donovan and two companies […]

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IRS says legally married same-sex couples can now file taxes jointly

by Bert Seither October 14, 2013 Finance

By Bert Seither, Director of Operations at Corporate Tax Network About the author: Bert Seither is the Director of Operations at Corporate Tax Network, a national accounting and business development firm. For nearly 10 years, Seither has assisted small business owners to help put their companies on a path to prosperity. The Internal Revenue Service […]

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The Better Business Bureau Advises Consumers About Legitimate Debt Collectors vs. Scammers

by Adam J Krohn October 3, 2013 BigLaw

The Better Business Bureau (BBB) has recently issued an alert about the growing number of complaints about scam debt collectors over the past year.  The BBB also advised consumers to learn about how to determine what is a legitimate debt collection effort and what is a scam.  This can be a difficult assessment because some […]

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7 Schemes that Scam the Mortgage Distressed

by terryduschinski September 18, 2013 Banking and Finance Law

On its road to recovery from the tailspin of the Great Recession, the United States housing market has become a playground for schemers and scammers. It is fertile soil for fraud. Mortgage shenanigans proliferate due to whealings and dealings of “industry insiders” — loan officers, mortgage brokers and appraisers — according to the FBI in […]

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