CFPB, Federal Agencies, State Agencies, and Attorneys General
Continuing our coverage of the CFPB’s proposed debt collection rules, this blog post will focus on a few provisions that pertain specifically to mortgage servicers.
In part, the proposal continues the CFPB’s efforts to harmonize mortgage servicing regulation (which generally promotes communication with consumers) and debt collection regulation (which generally restricts communication with consumers). …
The CFPB’s proposed debt collection rules were published in yesterday’s Federal Register.
The publication of the proposal means that the 90-day comment period is now running. Comments must be filed no later than August 19, 2019.
Plans announced on May 15 by the FCC to empower voice service providers to offer more aggressive call-blocking programs could create significant problems for creditors and debt collectors. In addition to allowing providers to block unwanted calls by default, the FCC plans to allow providers to offer opt-in blocking in which a consumer can elect…
Last Friday, the CFPB announced that it had filed yet another meaningful attorney involvement lawsuit against a debt collection law firm – Forster & Garbus, P.C. It’s notable enough that the Bureau continues to pursue these cases (even while proposing a “safe harbor” for meaningful attorney involvement in its proposed debt collection rules), but there…
As part of our continuing discussion of the CFPB’s proposed debt collection rules, we focus in this blog post on a provision that occupies very little real estate in the proposal, but could have tremendous significance: a new “safe harbor” provision relating to meaningful attorney involvement by debt collection law firms, contained in section…
In this blog post, we attempt to dissect and explore the Bureau’s proposed call frequency and time/place limitations in the recently-released debt collection NPRM.
Proposed Call Frequency Limitations
First, let’s tackle the proposed call frequency limitations. Section 1006.14(b)(2) prohibits attempting to call (note the use of the word “call,” as opposed to “communicate with”)…
The Bureau’s proposed debt collection rules, released last week, only apply to debt collectors, as defined under the Fair Debt Collection Practices Act. So, why should creditors and servicers be interested in them? Lots of reasons.
First, a number of provisions call for creditors (or by extension, servicers) to take action before a debt…
One day after announcing its notice of proposed rulemaking regarding the Fair Debt Collection Practices Act (FDCPA), the CFPB held a town hall at the University of Pennsylvania to discuss the major aspects of the proposal, gauge stakeholders’ reactions, and field comments from the public. The town hall consisted of opening remarks by Director Kraninger,…
The CFPB has published its long-awaited notice of proposed rulemaking under the Fair Debt Collection Practices Act (FDCPA). The proposed rule would apply only to debt collectors covered by the FDCPA, although creditors and servicers acquiring debts before default will feel its impact as well.
On May 14, 2019, from 12 p.m. to 1:30 p.m.…
As we stated in Monday’s blog, the purpose of the CFPB’s Town Hall taking place on May 8 in Philadelphia will likely be to announce the notice of proposed debt collection rulemaking. It has been announced by ACA International that CEO, Mark Neeb, has been invited to participate in the Town Hall. There is…
