On December 10, the Federal Trade Commission (FTC) announced that it is distributing more than $540,000 in refunds to victims of an abusive debt collector group. The debt collectors allegedly threatened consumers with lawsuits or arrest for debts that they might not have even owed.
On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) published its long-anticipated proposed rule aimed at regulating data brokers under the Fair Credit Reporting Act (FCRA). Although the CFPB’s future is uncertain under the upcoming administration, if implemented, the rule would significantly expand the reach of the FCRA.
In November 2024, the New York City Department of Consumer and Worker Protection (DCWP) proposed additional amendments to its rules relating to debt collectors to clarify the definition of a "debt collector."
The Federal Communications Commission todayannounced new enforcement and rulemaking actions to stop bad actors from facilitatingnuisance and illegal robocalls. The FCC’s Enforcement Bureau announced that 2,411 voiceservice providers failed to properly file in the Robocall Mitigation Database and must showcause why they should not be removed.
The Consumer Financial Protection Bureau (CFPB) has finalized a significant enforcement action against Lexington Law and CreditRepair.com, two of the country’s largest credit repair companies. In August 2023, the CFPB obtained a $2.7 billion judgment against these companies for violating federal consumer protection laws. By December 2024, the CFPB began distributing $1.8 billion to 4.3 million consumers from its victims relief fund, representing the largest distribution in the agency’s history.
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