On December 1, the State of Illinois’s Department of Financial and Professional Regulation promulgated final regulations implementing provisions of the Illinois Collection Agency Act.
The Justice Department announced today a collection of cases against fraud networks that steal money from consumers and use deceptive tactics to conceal illicit activity from financial institutions, thereby allowing that illicit activity to continue. The cases include two civil actions unsealed in the past week seeking temporary restraining orders and the appointment of receivers to stop defendants from dissipating assets.
The percentage of consumers who have experienced fraud via fake notifications about shipments, fraudulent online ads or other scams has increased over the last year, when 76% of AARP survey respondents indicated they had been targeted.
At its November 15, 2023, Open Meeting, the FCC adopted a Report and Order implementing new rules to protect cell phone consumers from SIM swap and port-out fraud, two practices that bad actors use to take control of consumers’ cell phones.
Well, it’s another month with sort of weird results. Somewhat bucking long term trends, FDCPA (+14.7%) suits were up in October while TCPA (-17.3%) and FCRA (-7.8%) were both down. YTD however, TCPA (+11.5%) was the only one up from last year, while FDCPA (-13.4%) and FCRA (-2.1%) were trending downward.
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