The federal Fair Debt Collection Practices Act restricts recovery to one percent of the debt collector's net worth. Motion for preliminary approval of class action settlement that was $60,000 above the statutory cap in 15 U.S.C. §1692k(a)(2)(B) denied.
October 20, 2015 at 12:00 AM
1 minute read
Class Action Settlement • FDCPA • Statutory Cap
Good v. Nationwide Credit, PICS Case No. 15-1561 (E.D. Pa. Oct. 5, 2015) Robreno, J. (17 pages).
The federal Fair Debt Collection Practices Act restricts recovery to one percent of the debt collector’s net worth. Motion for preliminary approval of class action settlement that was $60,000 above the statutory cap in 15 U.S.C. §1692k(a)(2)(B) denied.
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