The Consumer Bankers Association (CBA) has filed a letter commenting on the CFPB’s proposed debt collection rule.  Ballard Spahr served as counsel to the CBA in preparing the comment letter.

In the letter, the CBA urges the Bureau to make various revisions and clarifications to the proposal, including the following:

  • Taking the following steps to

In this podcast, we team with Bridgeforce, a leading financial services consultancy, to discuss how companies can prepare their operations should the CFPB’s proposed debt collection rule become final.  We look at the operational approaches available to companies in implementing the rule and legal considerations raised by each, the need for an assessment of assets

In this podcast, we examine the compliance challenges arising from the provision of the CFPB’s proposed debt collection rule that allows collectors to leave a limited content phone message that would not violate the FDCPA’s third party disclosure prohibition.  In addition to the requirement for a collector to leave the name of a natural person

In this podcast, we discuss in detail certain provisions of the CFPB’s Proposed Debt Collection Rule that create the possibility of a collector providing disclosures to consumers by means of electronic communications. Among other things, we detail the scope, requirements and limitations related to such electronic communications, review the logistical challenges the Rule poses as

In its proposed debt collection rules, the CFPB would allow a debt collector to satisfy the FDCPA requirement to provide the validation notice by sending the debtor an email or text message that includes a hyperlink to a secure website on which the notice is accessible, subject to a series of specific conditions set forth

In this podcast, we look at the unique challenges that the CFPB’s proposal may create for student loans.  Our discussion focuses on how the proposal’s call attempt limits, time/place limits for calls, texts, and e-mails, and special restrictions that apply to the aggregation of multiple student loans could impact communications with borrowers.

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The CFPB’s focus on debt collection continues. In addition to proposing changes to debt collection rules, analyzing debt collector trade lines, and filing and participating as an amicus in debt-collection litigation, the CFPB recently announced a proposed settlement involving over $60 million in redress and penalties with debt collection companies Northern Resolution Group,

In a notice to be published in tomorrow’s Federal Register, the CFPB is extending the comment deadline for its proposed debt collection rules until September 18.  The proposal’s initial 90-day comment period was set to expire on August 19.

The Bureau states in the notice that it received two written requests from consumer advocates

In this podcast, we focus on provisions of the proposed rules that are of particular interest to the mortgage industry.  In addition to the special consumer definition, we look at the alternative content allowed in the validation notice and issues raised by the need to include the amount of the debt.  We also highlight areas

Seven consumer advocacy groups have submitted a letter to Director Kraninger requesting a two-month extension of the August 19 comment deadline for the CFPB’s proposed debt collection rules.

The groups state in their letter that “there are very few organizations that represent the interests of people subject to debt collection that have the expertise and