November 24, 2017 / 12:37 PM / 7 months ago

2nd Circuit rejects lawsuit over debt buyer's electronic debits

Portfolio Recovery Associates, one of the world’s largest debt buyers, does not have to face a proposed class action accusing it of debiting consumers’ checking accounts without written permission, a federal appeals court has ruled.

A unanimous panel of the 2nd U.S. Circuit Court of Appeals on Tuesday affirmed the dismissal of a lawsuit claiming Portfolio Recovery Associates violated the U.S. Electronic Fund Transfers Act (EFTA), which bars businesses from using electronic, or automatic payments without written consent.

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