A report issued today by the Consumer Financial Protection Bureau found that 28% of consumers have at least one debt in collections by a third-party debt collector.
Browsing: Debt collection
The Consumer Financial Protection Bureau today proposed a long-awaited rule that would modernize and clarify rules around third-party debt collection.
The Consumer Financial Protection Bureau will take the next step in its effort to clarify the meaning of “abusive acts or practices” under Section 1031 of the Dodd-Frank Act, CFPB Director Kathy Kraninger said today in her first public remarks.
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 Supreme Court today ruled unanimously in the case of Obduskey v. McCarthy & Holthus LLP that a business engaged only in nonjudicial foreclosure proceedings is not a “debt collector” under the Fair Debt Collection Practices Act.
In a letter to the Consumer Financial Protection Bureau yesterday, the American Bankers Association objected to the bureau’s request to the Office of Management and Budget to conduct a debt collection survey, citing the need for the CFPB to solicit public feedback before moving forward.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.
This week, ABA’s legal team provides a preview of key cases in the Supreme Court’s 2018-19 term and their significance for banks.