News

Lexington Law and Creditrepair.com Enter $2.7 Billion Settlement with CFPB

Earlier this week, the Consumer Financial Protection Bureau (CFPB) reported that they reached a settlement with Lexington Law in the PGX Holdings bankruptcy case. As you may recall, we submitted a request for an Advisory Opinion seeking CFPB guidance regarding communication with consumers who have... Continue Reading

We saved the C in TRAK for Compliance

TRAKAmerica is the renowned nationwide leader in the field of Account Receivables Management and Repossession Management, dedicated to helping financial institutions recover outstanding debts while maintaining the utmost level of professionalism and integrity. With a proven track record of success... Continue Reading

NCBA Seeks Critically Important Advisory Opinion from CFPB

On June 22, NCBA submitted an Advisory Opinion Request (AOP), seeking guidance from the CFPB regarding Communication with Consumers who have been represented by bankrupt or defunct law firms. Recently two large credit repair companies with legal and regulatory problems—Lexington Law and... Continue Reading

Meaningful Attorney Involvement and the new ABA Ethics Opinion on Use of Nonlawyer Assistants

By Manny Newburger, Brit Suttell, and Nabil Foster of Barron & Newburger, P.C. Over the years NCBA has provided many educational sessions on meaningful-attorney-involvement (“MAI”) that also discussed the importance of Model Rule of Professional Conduct 5.3. On June 7, 2023, the... Continue Reading

Advocacy Update June 2023

Here’s the latest news of what’s happening in Washington and specific NCBA advocacy initiatives that we and our lobbyists have been engaged in over the past several weeks. Advocacy Support Fund and NCBA PAC donors to receive a more detailed version of the update below, plus... Continue Reading

Making Progress: Restoring Court Authority Over Litigation Act

In recent years, the American Bar Association (ABA) and its allies, including NCBA, have worked hard to protect the independence of the legal profession and judicial oversight of lawyers. These joint efforts come in many forms – from lobbying Congress to working to have the CFPB’s... Continue Reading

Celebrating AA&NHPI Heritage Month in May: Q&A with NCBA Officer Marvin Dang

The month of May is designated as Asian American, Native Hawaiian, and Pacific Islander Heritage Month. This month the United States celebrates and honors the important impact that Asian Americans, Native Hawaiians, and Pacific Islanders (“AA&NHPI”) have made. May was selected... Continue Reading

Options for Legal Recovery Are Expanding in 2023

Legal Recovery Teams are expanding their business thanks to exciting new options that provide more comprehensive details on the consumers in their portfolios. RNN’s Judgment Solution, 1st Source, is built on quality data which provides guaranteed results with quick turnarounds of the... Continue Reading

Why Can't Courts Agree to the Definition of Debt Collector?

Why Can’t Courts Agree to the Definition of Debt Collector Under the Fair Debt Collection Practices Act? Continue Reading

Download TransUnion's Annual Survey — Charting the Course and Steering Toward Success

Review the trends, challenges and opportunities reshaping the third-party collections industry. We invite you to download the annual survey — Charting the Course and Steering Toward Success — conducted by TransUnion and the Aite-Novarica Group. Some standout takeaways... Continue Reading

Complete Compliance for Legal Collections with REPAY

Collecting payments doesn’t have to be a compliance burden. REPAY handles the heavy lifting! Because legal collections are our specialty, we ensure your agents deliver the proper payment disclosures and client requirements to help reduce your compliance exposure. No matter how you collect,... Continue Reading

Supreme Court to Rule on CFPB’s Constitutionality

There is a lot of noise surrounding the Supreme Court’s announcement Monday that the Consumer Financial Protection Bureau’s (CFPB) constitutionality will be addressed during the Court’s next term. An appellate court ruled in October that the CFPB’s current funding structure... Continue Reading