CFPB Proposal on Debt Collection Expected This Spring

The Consumer Financial Protection Bureau is expected to issue a notice of proposed rulemaking this spring to address a number of issues related to debt collection, including communication practices and consumer disclosures, according to its annual report to Congress on the Fair Debt Collection Practices Act released today.

The report—which summarizes efforts by the CFPB and the Federal Trade Commission to enforce the FDCPA and educate consumers about debt collection—noted that the bureau fielded more than 81,000 complaints from consumers about first- and third-party debt collectors in 2018, and engaged in six public enforcement actions arising from alleged FDCPA violations.