Debt collectors are regulated by the FTC on the federal level. At the state level, attorneys general are typically responsible for enforcing state and federal laws. A few local governments also separately regulate debt collectors. The laws that govern the ARM industry are civil, meaning that liability is almost always monetary. So a state’s attorney general will not file criminal charges against a debt collector accused of violating the law, rather, he/she will sue for damages. Collection laws include federal and state statutes that govern the proper operation of companies and personnel that work in the debt collection industry. The most comprehensive collection law is the Fair Debt Collection Practices Act (FDCPA). Other federal laws that collectors must follow include the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the data security requirements of the Gramm–Leach–Bliley Act (GLBA).
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Poll Results: What Are Collection Agencies Focusing On in 2012?
29 February 2012
What if the Debtor Thinks its Too Big to Pay?
28 February 2012
FTC Takes Action to Stop Massive Robocalling Operations
27 February 2012
FDCPA Lawsuits in 2011 Revised Up Over 12,000
27 February 2012
Debt Collectors Struggling; Bartmann Prowling; CFPB! The Week in Opinion
24 February 2012
Consumer Attorney Endorses CFPB Collection Oversight; Sun Rises
23 February 2012
When People Ask Me What It's Like to Be a Debt Collector, I Tell Them...
23 February 2012
If Collections Compliance is the Priority, Here is Your Road Map
23 February 2012
"Ask Doctor Debt": A Debt Collection Resource For Active Military Personnel
22 February 2012
FTC Halts $5 million Debt Collection Scam Operating in India
22 February 2012
That Time Hollywood Video Tried to Collect Some Bad Debt
22 February 2012
Can the CFPB Make Debt Collectors Reveal their Privileged Documents?
21 February 2012
U.S. District Court Preliminarily Approves Class Action Settlement in Action Against Debt Collector
21 February 2012
Opinion: How the CFPB Should Handle Collection Agencies
21 February 2012
insideARM.com on Forbes: Michael Klozotsky on Debt Collectors as "Chopped" Liver
21 February 2012
Pennsylvania = Freedom! for Credit Card Defaulters
21 February 2012
Illinois Attorney General Turns the Heat Up on Reverse Mortgage Abuses
21 February 2012
LA Times Looks at the CFPB's New Role Over Larger Collection Agencies
21 February 2012
Allegations of Collection Agency Attorney Abuses in Indianapolis
21 February 2012
New Mexico Tribal Reservations Use Collection Agencies for Traffic Tickets
21 February 2012