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.
Today, the Consumer Financial Protection Bureau (CFPB) took action to address unlawful student loan debt collection practices by Performant Recovery, Inc. against defaulted borrowers. The CFPB found that Performant delayed borrowers’ loan rehabilitation processes, generating fees for itself and costing individual borrowers thousands of dollars. The CFPB’s order requires Performant to pay a $700,000 penalty and bans it from servicing or collecting any student loan debts.
The Federal Trade Commission has stopped a scheme that allegedly bilked millions of dollars out of consumers burdened with student loan debt by pretending to be affiliated with the U.S. Department of Education in violation of the FTC’s Impersonation Rule, collecting illegal advance fees, and making other deceptive claims.
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