Both telemarketing and debt collection are, quite literally, risky businesses. Both fields are highly regulated, governed by complex legislation, and subject to potentially expensive penalties and litigation.
The legislature of the state of New York and Governor Andrew Cuomo enacted the state’s 2021 Executive Budget. Among the budget’s provisions is one that reduces the statute of limitations from six years to three years for collections lawsuits on medical debt.
Throughout the various ups and downs of Telephone Consumer Protection Act (TCPA) litigation, federal and state regulatory actions, and precedent-setting court decisions, one of the few consistent truths is that plaintiff attorneys make money hand over fist.
It's been a big week for the Consumer Financial Protection Bureau (CFPB). Newly proposed debt collection rules that may update the 1977 Fair Debt Collection Practices Act (FDCPA) could allow debt collectors to send unlimited texts and emails to consumers.
In April, the Fourth Circuit struck down the TCPA Debt Exemption that permitted automated calls to cellphones when the calls were for the collection of government-backed debt such as a student loan. The ruling called the exemption "unconstitutional" and nearly resulted in the invalidation of the entire TCPA (Telephone Consumer Protection Act).