The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (Bureau) have released a report on their actions to battle illegal debt collection practices. The 2017 Fair Debt Collection Practices Act (FDCPA) notes law enforcement, education and public outreach, and policy initiatives as efforts made by the agencies to combat these illegal practices.

“The FTC will remain vigilant in our efforts to monitor this industry and stop unlawful conduct that harms both consumers and legitimate businesses,” said FTC Acting Chairman Maureen K. Ohlhausen, “and will continue to work with our law enforcement partners, including the CFPB, on this important issue.”

Protecting Consumers and Businesses

The FTC obtained more than $64 million in judgments from filing or resolving 10 cases against 42 defendants in 2017. Further, they banned 13 companies and individuals—who seriously or repeatedly violated the law—from working in debt collection.

In 2017, the Bureau’s efforts to combat illegal debt collection included uncovering actions deemed to violate the FDCPA after supervisory examinations and conducting non-public investigations of companies to determine if they engaged in practices violating the FDCPA or Consumer Financial Protection Act. Specifically, they handled 84,500 debt collection complaints and resolved an FDCPA enforcement case that resulted in consumer relief and a payment to the civil penalty fund.

The FTC and the Bureau are continuing to work together to protect both consumers and businesses by monitoring the debt collection industry and aiming to put a stop to unlawful conduct.

Navigating the state and federal regulatory maze while mitigating risk is becoming more daunting every day for compliance leaders. Especially when dealing with agents in branch offices, reps using personal phones, or independents and BPOs marketing on your behalf. For almost 20 years, Gryphon has protected the largest and most valued brands in banking, insurance, manufacturing and home services from headline risk, brand damage, and costly fines associated with outbound marketing violations.

Avoid TCPA and DNC fines. Protect your business from TCPA and DNC Risk. The Cost of non-compliance extends far beyond the risk of fines. Since 1998, Gryphon’s highly patented suite of compliance services provides bulletproof compliance and protection from headline risk, brand damage, and costly penalties.

Our services apply all legal exemptions to those laws to help your business grow, and our experts provide customized consulting and support with expanding regulations. Bullet-proof compliance is only half the equation used to solve TCPA and DNC compliance issues.  Gryphon’s intelligent cloud engine automatically applies legal exemptions (opt-ins) to make sure you are not over-suppressing legal contacts who want to hear from you. Gryphon’s Secure Cloud engine unlocks your largest marketable universe to maximize your outreach and protect every opportunity.

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