Scrutiny of the debt buying industry continues to heat up, and its effects are far-reaching. Using data from the nine largest debt buyers, the Federal Trade Commission has released a report, The Structure and Practices of the Debt Buyer Industry. It concludes that, at times, debt buyers do not have sufficient information about consumer accounts, leading to inaccuracies in debt collection. The FTC also repeated its views on the collection of time-barred debt and carefully scrutinized the terms of debt sale agreements between credit card issuers and debt buyers. This development follows on the heels of the CFPB's initiative to supervise and examine certain participants in the debt collection industry.

In this webinar, we will discuss the implications of the FTC's report for both creditors and debt buyers, and suggest strategies for adapting to ongoing and anticipated challenges from the FTC, CFPB, other regulators, and debtors' attorneys. 

Topics

  • The regulators’ growing demands for account information to be shared with debt buyers 
  • Recommended terms in purchase and sale agreements 
  • Whether to sell and collect on debt that is time-barred by a statute of limitations
  • How the CFPB is likely to use the FTC's data, conclusions, and recommendations in taking its own actions in the debt buying industry   

Program

12:00 PM - 1:30 PM ET | Webinar

Moderator

Alan S. Kaplinsky, Practice Leader, Consumer Financial Services Group
Ballard Spahr LLP

Presenters

Joann Needleman, Vice President
Maurice & Needleman, P.C.

John L. Culhane, Jr., Partner, Consumer Financial Services Group
Ballard Spahr LLP

Glen P. Trudel, Partner, Consumer Financial Services Group
Ballard Spahr LLP

Christopher J. Willis, Partner, Consumer Financial Services Group
Ballard Spahr LLP

Stefanie H. Jackman, Associate, Consumer Financial Services Group
Ballard Spahr LLP

Heather S. Klein, Associate, Consumer Financial Services Group
Ballard Spahr LLP 

There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa M. Prickril at prickrill@ballardspahr.com.

Program Contact

Lisa Prickril
prickrill@ballardspahr.com