CFPB Report: One in Four Consumers Have Debt in Third-Party Collections
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
CFPB Proposes Modernization, New Limits on Third-Party Debt Collection
The Consumer Financial Protection Bureau today proposed a long-awaited rule that would modernize and clarify rules around third-party debt collection.
CFPB’s Kraninger Signals Next Steps on Clarifying ‘Abusive’ Standard in UDAAP
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.
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.
Supreme Court: Foreclosure Firms Not Considered Debt Collectors Under FDCPA
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.
ABA Opposes CFPB’s Premature Debt Collection Data Survey
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 in 2019: What to Expect and Where to Focus
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
CFPB Updates Rulemaking Agenda for Fall 2018
The Consumer Financial Protection Bureau yesterday updated its rulemaking agenda for the remainder of 2018.
Podcast: Key Banking-Related Supreme Court Cases
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.
Of Chickens, Debt Collection and Standing
A 2018 Supreme Court preview.