Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Bureau sues debt collector BounceBack, Inc.
The Consumer Financial Protection Bureau has sued BounceBack, Inc.. a Kansas City, Missouri-based operator of bad-check pretrial-diversion programs on behalf of more than 90 district attorneys' offices throughout the country. The Bureau alleges that in the course of implementing this program, BounceBack violated the Fair Debt Collection Practices Act (FDCPA) and the Consumer Financial Protection Act of 2010 (CFPA). The Bureau’s complaint seeks injunctions against BounceBack, as well as damages, redress to consumers, disgorgement of ill-gotten gains, and the imposition of a civil money penalty.
The Bureau's complaint alleges that since at least 2015, in the course of administering these bad-check pretrial-diversion programs, BounceBack used district-attorney letterheads to threaten more than 19,000 consumers with prosecution if they did not pay the amount of the check, enroll and pay for a financial-education course, and pay various other fees. BounceBack failed to—
- reveal to consumers that BounceBack—and not district attorneys—sent the letters
- reveal that district attorneys almost never prosecuted these cases, even when consumers ignored BounceBack’s threats. In fact, in most cases, BounceBack did not refer cases for prosecution, even if the check writer failed to respond to its collection letter.
- include disclosures required under the FDCPA.
The Bureau alleges that BounceBack’s conduct violated the FDCPA, was deceptive under both the FDCPA and the CFPA, and that its violations of the FDCPA constituted violations of the CFPA.
- CFPB press release