Browsing: Debt collection

Compliance

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.

Newsbytes

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.

Compliance

The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.

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