FDCPA and TCPA cases fell, while FCRA and CFPB complaints increased in February, according to the latest report from WebRecon.
04/24/2024 1:05 P.M.
2 minute read
WebRecon’s latest report shows litigation decreased in February for Fair Debt Collection Practices Act and Telephone Consumer Protection Act claims, while Fair Credit Reporting Act claims and Consumer Financial Protection Bureau complaints rose.
FDCPA suits decreased 20.1% from January 2024 to February 2024, TCPA cases decreased 32%, FCRA cases increased 26.4%, and CFPB complaints increased 20.4%, according to WebRecon findings.
Here is a breakdown of claims under accounts receivable management industry laws as well as CFPB complaints for February 2024.
Fair Debt Collection Practices Act
FDCPA claims decreased by 20.1% to 365 in February compared to 457 in January. Compared to claims from Jan. 1 through Feb. 29, 2023, FDCPA claims increased 19.8%, from 686 to 822, during the same period in 2024.
Telephone Consumer Protection Act
TCPA claims decreased 32%, with 136 claims in February compared to 200 claims in January. Compared to claims from Jan. 1 through Feb. 29, 2023, TCPA claims increased 32.8%, from 253 to 336, during the same period in 2024.
Fair Credit Reporting Act
FCRA claims increased by 26.4% to 675 in February compared to 534 in January. Compared to claims from Jan. 1 through Feb. 29, 2023, FCRA claims increased 40.4%, from 861 to 1,209, during the same period in 2024.
Consumer Financial Protection Bureau Complaints
Consumer complaints filed with the CFPB increased by 20.4% to 8,838 in February compared to 7,338 in January.
There were 5,538 complaints in February 2023 compared to the 8,838 complaints in February 2024—a 59.6% increase.
The types of debt behind the complaints were:
2,224 I do not know (25%)
2,124 Credit card debt (24%)
1,583 Other debt (18%)
909 Telecommunications debt (10%)
634 Medical debt (7%)
584 Rental debt (7%)
428 Auto debt (5%)
178 Payday loan debt (2%)
87 Mortgage debt (1%)
48 Federal student loan debt (1%)
39 Private student loan debt (0%)
The most common type of complaint was about attempts to collect debt not owed, at 51% or 4,521 complaints, followed by complaints about written notification about a debt at 28% or 2,434.
Read the complete WebRecon report here.
Remember, subscribe to ACA Daily and Member Alerts under your My ACA profile when logged in to acainternational.org to receive updates on the ACA Huddle.