FCRA and TCPA litigation filings decline, according to latest WebRecon report.
Consumer litigation filings displayed some “unusual” trends in June, according to the latest WebRecon LLC report.
“For June 2020 we have a picture I don’t quite remember seeing before. FDCPA is up a strong 20.2 % over last month and FCRA/TCPA are both down pretty big as well, 12.9 % and 11.1 %, respectively,” WebRecon LLC CEO Jack Gordon said in the report. “That on its own is fairly unusual.”
However, Gordon reports, year-to-date filings for the three statutes show opposite activity compared to June.
The FDCPA declined 16.9 % while the FCRA increased 8.2 % and the TCPA increased 17.7%.
Looking at the monthly numbers:
TCPA filings declined from 207 in May to 184 in June, according to the report.
Meanwhile, FDCPA cases increased 20.2 % percent from 524 in May to 630 in June, and FCRA cases declined 12.9 % from 426 in May to 371 in June.
There were 2,376 filings for the FCRA from Jan. 1 through June 30, 2019, compared to 2,570 from Jan. 1 through June 30, 2020, an 8.2 % increase, according to the report.
TCPA filings increased 17.7 % comparing data from Jan. 1 through June 30, 2019, to that same timeframe this year. There were 1,789 and 2,106 filings under the TCPA, respectively.
The 16.9 % decrease in FDCPA filings comparing Jan. 1 through June 30, 2019, to that time this year is 4,394 to 3,651, respectively.
Complaints to the Consumer Financial Protection Bureau were relatively steady, with a 1.8% decrease from May to June. Year-to-date complaints increased 7.9 %. Timely responses from financial services companies continue to come in at strong rate: 97 %.