| Volume 120 Number 11 |
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The People’s Lawyer’s Tip of the Day
Your obligation to pay your credit card bill on time is satisfied when the check is received, not mailed. It is your responsibility to mail the check early enough to arrive before the due date. A good way to solve the problem of delayed mail is to pay your bill online. Click here for more.
CFPB Orders Citibank to Provide Relief to Consumers for Illegal Debt Sales and Collection Practices
Yesterday, the Consumer Financial Protection Bureau took two separate actions against Citibank for illegal debt sales and debt collection practices. In the first action, the CFPB ordered Citibank to provide nearly $5 million in consumer relief and pay a $3 million penalty for selling credit card debt with inflated interest rates and for failing to forward consumer payments promptly to debt buyers. The second action is against both Citibank and two debt collection law firms it used that falsified court documents filed in debt collection cases in New Jersey state courts. The CFPB ordered Citibank and the law firms to comply with a court order that Citibank refund $11 million to consumers and forgo collecting about $34 million from nearly 7,000 consumers.
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Your Money
Rather than looking for a good price, regardless of quality, save money by buying things only once. BuyMeOnce provides links to durable products, ranging from umbrellas, tools, cooking pots, to even tweezers. Click here for more.
For the Lawyers
FCRA limitations period begins to run when a claimant discovers the facts that give rise to a claim and not when a claimant discovers that those facts constitute a legal violation. The FCRA’s statute of limitations requires claims to be commenced no later than two years after the date of discovery of the violation that is the basis of liability, or five years after the date on which the violation occurs—whichever date falls earlier. 15 U.S.C. § 1681p(1)-(2). Relying on what it viewed as the plain language of the Act, the Sixth Circuit affirmed rejection of the claims as time-barred under the two-year limitations period. Rocheleau v. Elder Living Constr., LLC Click here for more.