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Fair Debt Collection Practices Act Small Business Regulatory Enforcement Fairness Act

Hudson Cook, LLP

CFPB Bites of the Month - December Top 20

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more

Smith Debnam Narron Drake Saintsing & Myers,...

Spring is Here and a Proposed Debt Collection Rule is Imminent

More than five years after it issued its Advanced Notice of Proposed Rulemaking, the CFPB appears poised to issue its proposed debt collection rules. The first hint that this was imminent came in the fall of 2018 when the...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Issues Semi Annual Report to Congress

The CFPB has issued its Semi-Annual Report to Congress for the time period beginning April 1, 2018 and ending September 30, 2018. The Report is the first issued by newly confirmed Director Kathy Kraninger and outlines the...more

Ballard Spahr LLP

CFPB withdraws request to OMB to conduct online debt collection survey

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The CFPB has withdrawn its request to OMB to conduct an online survey of 8,000 individuals as part of its research on debt collection disclosures. Last month, the CFPB published a notice in the Federal Register that it was...more

Ballard Spahr LLP

CFPB issues Spring 2017 rulemaking agenda

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The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Ballard Spahr LLP

Director Corday announces extension of comment period for small business lending RFI, restructuring of debt collection rulemaking

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In his prepared remarks for the Consumer Advisory Board meeting held on June 8, 2017, Director Cordray discussed CFPB initiatives in four areas. In addition to the CFPB’s letter to the top retail credit card companies...more

Ballard Spahr LLP

CFPB to seek OMB approval of survey on debt collection disclosures

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In a notice published earlier this week in the Federal Register, the CFPB announced that it plans to seek OMB approval to conduct an online survey of approximately 8,000 individuals as part of its research on debt collection...more

Ballard Spahr LLP

CFPB issues 2017 FDCPA report

Ballard Spahr LLP on

The CFPB has issued its fifth annual Fair Debt Collection Practices Act report covering the CFPB’s activities in 2016. According to the report’s section on complaints, the CFPB handled approximately 88,000 debt...more

Ballard Spahr LLP

Collection Letter Containing Check Box To Dispute Debt Created Potential FDCPA Claims, Federal Court Rules

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A collection letter potentially violated the Fair Debt Collection Practices Act (FDCPA) because a box the plaintiff could check to indicate she disputed the validity of the debt was accompanied by a statement that a reason...more

Ballard Spahr LLP

Letter With Check Box to Dispute Debt Created Potential FDCPA Claims, Court Rules

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A collection letter potentially violated the Fair Debt Collection Practices Act (FDCPA) because a box that the plaintiff could check to indicate that she disputed the validity of the debt was accompanied by a statement that a...more

Ballard Spahr LLP

CFPB Fall 2016 rulemaking agenda published

Ballard Spahr LLP on

The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Bradley Arant Boult Cummings LLP

CFPBs Meeting with Community Bank Advisory Council Provides Insights into Upcoming Debt Collection Rules

Last week , the Consumer Financial Protection Bureau (CFPB) met with the Community Bank Advisory Council (CBAC) to discuss the CFPB’s July 28, 2016, outline of the proposed debt collection rules (Outline) intended to...more

Ballard Spahr LLP

CFPB’s proposal for collection of decedent debt: a misguided approach (Part II)

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In my blog post yesterday, I shared my concerns regarding the potential consequences of the CFPB’s proposed 30-day hold on all collection contacts after the date of a consumer’s death. A 30-day holding period in which...more

Ballard Spahr LLP

CFPB’s proposal for collection of decedent debt: a misguided approach (Part I)

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This blog post is the first of two on the proposals being considered by the CFPB regarding the collection of decedent debt. In tomorrow’s blog post, I will share my thoughts on the CFPB’s proposal to prohibit debt collector...more

Stinson - Corporate & Securities Law Blog

CFPB Presents New Regulatory Requirements for Third-Party Debt Collectors

On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for regulating debt collection practices. The outline’s release triggers the formation of...more

Stinson LLP

CFPB Presents Significant New Regulatory Requirements for Third-Party Debt Collectors

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On July 28, 2016, the Consumer Financial Protection Bureau (CFPB) released an outline of proposals and alternatives under consideration for regulating debt collection practices. The outline’s release triggers the formation of...more

Ballard Spahr LLP

CFPB debt collection proposals would create problematic new substantiation standard

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The debt collection proposals outlined by the CFPB for the SBREFA panel are driven in large part by the CFPB’s reliance on the data derived from its complaint portal and a consumer survey conducted by the Bureau over several...more

Goodwin

CFPB Considering Debt Collection Reform Proposals

Goodwin on

On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform debt collection practices. At the same time, it released a Study of Third Party Debt Collection...more

Morrison & Foerster LLP

What You Need to Know Now About the CFPB’s Debt Collection Proposal

On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its outline of proposals under consideration for the regulation of debt collection. This 117-page release, entitled “Small Business Review...more

Morgan Lewis

CFPB Previews Anticipated Debt Collection Regulations

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The long-expected CFPB summary of new rule proposals for third-party debt collectors would have major implications not only for the debt collectors themselves, but also for the banks and other financial institutions doing...more

Baker Donelson

The CFPB's Overhaul of Debt Collection Regulation

Baker Donelson on

Yesterday, the CFPB continued its march towards the overhaul of debt collection regulation by releasing its proposals for a new rule. An Advance Notice of Proposed Rulemaking (ANPR) back in November 2013 signaled a lot of...more

Ballard Spahr LLP

CFPB previews debt collection rule in SBREFA outline

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The CFPB has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel. The Small Business Regulatory...more

Ballard Spahr LLP

CFPB Previews Debt Collection Rule in SBREFA Outline

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The Consumer Financial Protection Bureau (CFPB) has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel....more

Arnall Golden Gregory LLP

CFPB Outline of Debt Collection Proposals

On July 28th, the Consumer Financial Protection Bureau (CFPB) released a 71 page “outline” of proposals under consideration for its debt collector and debt buyer rulemaking. The outline was released in conjunction with the...more

Clark Hill PLC

CFPB Issues Long-Awaited Proposals for Regulation of the Debt Collection Industry

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Today, the Consumer Financial Protection Bureau ("CFPB" or "Bureau"), issued its outline of proposals under consideration for the regulation of debt collection. More than three years in the making, the CFPB's proposals will...more

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