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CFPB Issues Report on Debt Collection – What Does it Reveal?

The Consumer Financial Protection Bureau released a report today outlining its efforts and objectives in regulating, supervising and enforcing against debt collectors. The report is available here. CFPB 2014 on FDCPA

Past CFPB reports have provided guidance on where the bureau might be headed in its regulation, supervision and enforcement efforts. This year’s report is no different. It notes the growth of medical and student loan debt collection. Expect more focus on these sectors right away. In addition the report examines:

  • consumer complaints the CFPB and the Federal Trade Commission have received over the past year
  • their enforcement activities
  • the bureau’s supervision of debt collectors
  • the bureau’s rulemaking, research and policy initiatives

Next week our free webinar will examine the report and what it reveals for fine-tuning your compliance management systems and where the regulators may be headed in their enforcement and supervision efforts.

I have invited some special guests to join me in helping to analyze the report, including Manny Newburger and Eric Rosenkoetter, director of Government Affairs for the National Association or Retail Collection Attorneys. I’ve asked Eric to share some of the data NARCA collected concerning debt collection activity, which paints a very different picture from what the CFPB and FTC have provided. As always, your questions are welcome.

The webinar starts at 2:00 p.m. eastern on March 27.
Eventbrite - The CFPB's Report on Debt Collection

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