Daily Digest - November 4, 2024

Judge Denies FDCPA Claim in Elaborate Fraud Case

• Before diving into the details, I originally decided to write about this ruling because I thought it would be helpful to detail the lengths to which the scammer went in this situation and how it’s not always the uneducated or unsophisticated who get taken advantage of. But on top of that, there is a Fair Debt Collection Practices Act angle to the case, too. A District Court judge in Pennsylvania has denied a credit union’s motion to dismiss a claim that it violated the FDCPA after the plaintiff was scammed out of nearly $5,000, ruling that the credit union could potentially be liable under the FDCPA because of its role in attempting to collect on a fraudulent debt.

• More details here. 

A MESSAGE FROM TCN

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ACA International Sues CFPB Over Medical Debt Collection Guidance

• For the second time in less than a month, ACA International has filed a lawsuit, this time accusing the Consumer Financial Protection Bureau of an “overtly political act” and overstepping its authority by issuing a rule couched in its October 1 Advisory Opinion related to the collection of medical debt.

• More details here.

Consumers Struggling with Emergency Savings Amid Rising Inflation

• Nearly two-thirds of Americans are falling behind on their emergency savings due to soaring inflation and increasing expenses, which leads them with less money available to repay debts, according to a survey released by Bankrate.

• More details here. 

Compliance Digest – November 4

• There was a lot of compliance news last week -- nine different attorneys share their insights and make sure you understand exactly what you need to know from recent court rulings, enforcement actions, and other regulatory matters. Check out what Jessica Klander, Laurie Nelson, Heath Morgan, Nabil Foster, Lori Quinn, Brent Yarborough, David Shaver, Joshua Howell, and Leslie Bender have to say so you can stay in the know.

• More details here.

• This series is sponsored by Bedard Law Group

WORTH NOTING: It's never too early to start shopping Black Friday deals ... A recipe to help you use up Halloween candy leftovers ... The gap between the price of used cars and new vehicles has never been wider ... Being lonely may accelerate the onset of dementia ... A handful of tricks to help you refine and upgrade your Google searches ... More people are cloning their pets ... A look at the best and worst movies about elections ... Step aside, Black Friday. Travel Tuesday is here and becoming more popular with consumers.

Music Monday, Part I

Music Monday, part II