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
debt collection
To call or not to call: the NPRM’s proposed call frequency and time/place limitations
By Stefanie Jackman on
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”)…
Why creditors and servicers should care about the CFPB’s proposed debt collection rules
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…
CFPB hosts debt collection rulemaking town hall; Ballard Spahr to hold May 14 webinar
By John L. Culhane, Jr. & Brian Slagle on
Posted in CFPB Rulemaking, Debt Collection
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,…
CFPB’s Debt Collection Town Hall
By Alan S. Kaplinsky on
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…
CFPB issues annual FDCPA report
By John L. Culhane, Jr. on
Posted in CFPB Monitor, Debt Collection
The CFPB has issued its eighth annual Fair Debt Collection Practices Act report covering the CFPB’s and FTC’s activities in 2018.
While the new report incorporates information from the FTC’s annual letter to the CFPB describing its FDCPA activities during the year covered by the report, the report continues the practice begun with last year’s…
CFPB seeks approval for debt collection and household balance sheet surveys
By Barbara S. Mishkin on
The CFPB published two notices in today’s Federal Register seeking OMB approval for two surveys, one dealing with debt collection and the other with household balance sheets.
Debt collection. The request described in the notice is a resubmission of a previously published request to OMB seeking approval to conduct an online survey of 8,000…
New York enacts amendments addressing collection of family member debts
By Barbara S. Mishkin on
On December 28, 2018, New York Governor Cuomo signed into law amendments to the state’s General Business Law (GBL) that address the collection of family member debts. The amendments made by Senate Bill 3491A become effective March 29, 2019.
While the legislative history indicates that the amendments are intended to address the collection of a…
Consumer advocacy groups make recommendations to Kraninger for debt collection rulemaking
By Barbara S. Mishkin on
Posted in CFPB Monitor, Debt Collection
Seventy-four organizations that describe themselves as “consumer, community, civil rights, faith, labor and legal services groups” have sent a letter to CFPB Director Kathy Kraninger to “reiterate our concerns about widespread debt collection abuses that we have raised in the past and the ongoing need for better protection against these abuses.”
In the letter, the…
State AGs enter into settlement with debt buyer to resolve robosigning allegations
By Barbara S. Mishkin on
The Attorneys General of 42 states and the District of Columbia (collectively, the States) have entered into an Assurance of Voluntary Compliance/Assurance of Discontinuance (Agreement) with Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC and Midland Credit Management, Inc., (collectively, Midland) to settle allegations relating to Midland’s debt collection practices. According to a …