FTC Touts Record of Outreach, Addressing “Troubling Issues” in Debt Collection

Two news items were released yesterday by the Federal Trade Commission (FTC) Office that should be reviewed by the ARM industry.

First, Chris Koegel, Assistant Director, Division of Financial Practices, at the FTC published a blog, A Year in Debt Collection. The blog is essentially a “year in review” for 2015 activities at the FTC. Koegel noted: “During 2015, the FTC made a plan to address some new and troubling issues in debt collection. Throughout the course of the year, we stuck to that plan – bringing a record number of new cases, banning bad debt collectors, talking with industry, and finding new ways to do outreach.”

During 2015, the FTC coordinated the first federal-state-local enforcement initiative (Operation Collection Protection) against debt collectors – including actions by more than 70 different partners – they also filed 12 new cases against 52 different defendants. The FTC also resolved 9 cases, obtaining nearly $94 million in judgments.

View this content by subscribing

Please register to unlock this content

I already have an account. Log in