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Friday, November 15, 2013

ABA Analyzes CFPB Debt Collection Request

ABA has issued a staff analysis of the CFPB’s advance notice of proposed rulemaking on debt collection. The notice included 162 questions that cover the debt collection industry and procedures, collectors’ interactions with borrowers and issues relating to state law and the federal Fair Debt Collection Practices Act, which the Dodd-Frank Act amended giving the CFPB rulemaking authority.

ABA’s analysis summarizes the ANPR for bankers and answers questions that bankers may have before making comments.

Comments are due February 10, 2014.

Read the staff analysis.


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