Debt collectors are regulated by the FTC on the federal level. At the state level, attorneys general are typically responsible for enforcing state and federal laws. A few local governments also separately regulate debt collectors. The laws that govern the ARM industry are civil, meaning that liability is almost always monetary. So a state’s attorney general will not file criminal charges against a debt collector accused of violating the law, rather, he/she will sue for damages. Collection laws include federal and state statutes that govern the proper operation of companies and personnel that work in the debt collection industry. The most comprehensive collection law is the Fair Debt Collection Practices Act (FDCPA). Other federal laws that collectors must follow include the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the data security requirements of the Gramm–Leach–Bliley Act (GLBA).

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An letter from a debt collector that says "Past Due" in red on the outside [Image by creator Robert Mizerek from AdobeStock]

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Richard Cordray testifying before Congress [Image by creator  from insideARM]

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Bank of America Hit With Class Action Over Debt Collection Litigation on Securitized Accounts

17 March 2016

Black keyboard with one large red key that says "Opinion" [Image by creator tashatuvango from AdobeStock]

FTC Expands List of Banned Debt Collectors; Is There Any Connection to Legitimate Firms?

16 March 2016

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16 March 2016

NYDFS and CFPB Sample Request for Substantiation Letters are Awfully Complex

15 March 2016

Canadian Creditors Dropping the Ball Where Ontario Residents Represented by Debt Settlement Firms

15 March 2016

FCC Releases Proposed Rules for Government Debt Collection Calls

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 [Image by creator James Steidl from AdobeStock]

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11 March 2016

Court Rules Express Consent Passes from Creditor to Collector

11 March 2016

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10 March 2016

Black keyboard with one large red key that says "Opinion" [Image by creator tashatuvango from AdobeStock]

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CFPB Winter 2016 Supervisory Highlights Identifies a "Beneficial" Practice

9 March 2016

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