Claims can be filed to address improper collection practices. The Consumer Financial Standards Board recently filed a claim involving debt collection practices for major creditors.
This action is part of the Bureau’s work to address illegal debt collection practices across the consumer financial marketplace, including companies who sell, buy, and collect debt. For instance, in separate enforcement actions, the CFPB has ordered three of the firm’s clients, JPMorgan Chase, Portfolio Recovery Associates, and Encore Capital Group, to overhaul their debt collection practices and to refund millions to harmed consumers. The Bureau will continue working to ensure all players in the collections market treat consumers fairly.
A consent order can be found at: http://files.consumerfinance.gov
The proposed consent order filed today follows an earlier court order issued in July 2015 that rejected the defendants’ motion to dismiss the case. Among other things, that court ruling held that attorneys have an obligation to meaningfully review the facts of a lawsuit before filing it and that the CFPB has the authority to take action against attorneys engaged in unlawful consumer debt-collection practices.
CALL FOR A FREE CONSULTATION AT 973-598-1980 IF YOU HAVE BEEN A VICTIM OF UNLAWFUL DEBT COLLECTION PRACTICES.