Everybody makes mistakes, but for certain professionals, those mistakes could lead to major repercussions for their clients. Lawyers are held to high standards for a good reason: the work they do has a major impact on their clients' lives. If a lawyer makes a serious mistake or does not fulfill his or her role properly, it is often the client who will suffer the consequences. Holding attorneys responsible for potential malpractice helps ensure that consumers are protected and that the legal profession as a whole continues to strive for the highest of standards. Here is a quick look at the three most common legal malpractice claims, according to the American Bar Association.
The U.S. Consumer Financial Protection Bureau (CFPB) has fined a debt collection agency and a New Jersey law firm $2.5 million of running a "lawsuit mill" against consumers. The agency and law firm were accused of filing mass lawsuits against allegedly indebted consumers, often without verifying whether the lawsuits had any validity. The CFPB alleged that both the law firm and the collection agency violated the Consumer Protection Act, the Fair Debt Collection Practices Act and the Dodd-Frank Wall Street Reform law.