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Category Archives: Debt Collection

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

Posted in Debt Collection

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 collectors are prohibited from contacting a surviving spouse about a debt would, standing alone, have little impact on the way that decedent… More >

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

Posted in Debt Collection

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 contact with informal representatives. Some background.  The CFPB has been sending signals for quite some time that… More >

CFPB Credit Union Advisory Council to meet Sept. 1

Posted in Debt Collection

The CFPB has published a notice in the Federal Register announcing that a meeting of its Credit Union Advisory Council (CUAC) will be held on September 1, 2016. The notice indicates that the CUAC will discuss youth financial capability and debt collection.  Presumably, the CFPB will seek input from CUAC members on the debt collection… More >

CFPB Releases Debt Collection Industry Study

Posted in Debt Collection

On July 28, the CFPB held a field hearing about debt collection in Sacramento, California coinciding with the release of an outline of the proposals it is considering in connection with its debt collection rulemaking. Together with its release of the outline, the CFPB issued a report, “Study of Third-Party Debt Collection Operations.” In the… More >

CFPB Holds Hearing to Present Proposals for Debt Collection Regulation

Posted in Debt Collection

July 28th, the CFPB held a field hearing in Sacramento, California on debt collection that coincided with its release of an outline of the proposals it is considering in connection with its debt collection rulemaking. In his opening remarks, Director Cordray discussed the key elements of the proposals under consideration which would only cover businesses… More >

CFPB previews debt collection rule in SBREFA outline

Posted in Debt Collection

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 Enforcement Fairness Act and the Dodd-Frank Act require the CFPB to convene such a panel when developing rules that… More >

CFPB to hold July 28 debt collection field hearing

Posted in Debt Collection

The CFPB has announced that it will hold a field hearing about debt collection on July 28, 2016 in Sacramento, California.  We expect the field hearing to coincide with the CFPB’s release of an outline of the proposals it is considering in preparation for convening a small business review panel required by the Small Business… More >

SCOTUS decides FDCPA case

Posted in Debt Collection

On May 16, 2016, the U.S. Supreme Court unanimously held in Sheriff v. Gillie that an independent contractor to the Ohio Attorney General (OAG) did not mislead consumers in violation of the Fair Debt Collection Practices Act (FDCPA) when it used the OAG’s letterhead in correspondence with consumers in collecting debts owed to the State of… More >

CFPB announces consent orders with debt collection law firm, two law firm partners, debt buyer

Posted in CFPB Enforcement, Debt Collection

The CFPB announced that it has entered into two consent orders involving debt collection litigation practices. A debt collection law firm and two of its partners are the subject of one consent order and a debt buyer is the subject of the other consent order.  The consent orders recite that the conduct of the law… More >

CFPB March 2016 complaint report highlights debt collection complaints, complaints from Florida consumers

Posted in Debt Collection

The CFPB has issued its March 2016 complaint report which highlights complaints about debt collection and complaints from Florida consumers.  The CFPB began taking complaints about debt collection in July 2013. General findings include the following: As of March 1, 2016, the CFPB handled approximately 834,400 complaints, including approximately 22,800 complaints in February 2016.  Debt… More >

CFPB issues 2016 FDCPA report

Posted in Debt Collection

The CFPB has issued its fifth annual Fair Debt Collection Practices Act report covering the CFPB’s activities in 2015. In the background section of the report, the CFPB provides various statistics about the debt collection industry and consumer debt.  The CFPB observes that there has been a significant increase in consumer FDCPA litigation, with 4,316… More >

ACA International white paper takes aim at misleading use of CFPB complaint data

Posted in Debt Collection

A new white paper issued by ACA International takes aim at the use of CFPB complaint data by The Alliance for a Just Society in a report titled “Unfair, Deceptive, and Abusive: Debt Collectors Profit from Aggressive Tactics.” The Alliance’s report concluded that consumer complaints filed with the CFPB “suggest that unfair, deceptive and abusive… More >

Human Rights Watch issues report on debt buyers

Posted in Debt Collection

A new report by Human Rights Watch (HRW) titled “Rubber Stamp Justice—US Courts, Debt Buying Corporations, and the Poor” is likely to find readers at the CFPB, which is expected to move closer early this year to proposing debt collection regulations.  In its Fall rulemaking agenda, the CFPB estimated that further prerule activities would occur in… More >

CFPB issues bulletin on in-person debt collection

Posted in Debt Collection

The CFPB has issued a bulletin (Compliance Bulletin 2015-07) to provide guidance to creditors, debt buyers and third-party debt collectors about compliance with the CFPA UDAAP prohibition and the FDCPA when conducting in-person debt collection visits, such as visits to a consumer’s workplace or home. The bulletin highlights the following potential compliance violations that can… More >

FTC announces “Operation Collection Protection”

Posted in Debt Collection, FTC

Last week, the FTC announced a new coordinated effort against unlawful debt collection practices, “Operation Collection Protection.”  The FTC also announced that federal, state and local law enforcement agencies have brought 30 new actions against debt collectors nationwide. In targeting debt collectors, the FTC is joining forces with the CFPB as well as the Department… More >

CFPB to participate in FTC Atlanta debt collection program

Posted in Debt Collection, FTC

The CFPB will be participating in the FTC’s third “Debt Collection Dialogue” to be held in in Atlanta, Georgia on November 18, 2015.  Gregory Nodler, CFPB Senior Counsel for Enforcement Policy and Strategy, is scheduled to be a panelist.  The program will include a discussion of enforcement actions, consumer complaints, compliance issues, industry best practices, and… More >

CFPB urged to consider “unintended consequences” of debt collection regulations

Posted in CFPB Rulemaking, Debt Collection

A new article by Todd Zywicki for the Mercatus Center at George Mason University urges the CFPB to consider the “unintended consequences” of new debt collection regulations and conduct a careful cost-benefit analysis before imposing such regulations.  Mr. Zywicki is a law professor at George Mason and Senior Scholar with the Mercatus Center. In November… More >