On May 17th the Consumer Financial Protection Bureau (CFPB) filed suit against the familiar debt collection firm Forster & Garbus. This case attempts to tackle the modern speed of debt collection where accounts placed for regular or legal collections are often weak on supporting documentation. And with the more automated mass market attempt to scale … Read more
Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem … Read more
New York Attorney General Andrew M. Cuomo today announced his office has sued 35 law firms and two debt collectors in New York State in order to throw out an estimated 100,000 default judgments improperly obtained against New York consumers. This is the latest action in Cuomo’s ongoing investigation into unlawful debt collection practices. According … Read more