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CBA responded to the CFPB’s Advanced Notice of Proposed Rulemaking (ANPR) on debt collections. In its notice, the Bureau cites it is the first agency with the authority to issue substantive rules under the Fair Debt Collection Practices Act (FDCPA), a law governing the practices of third-party collectors and debt buyers. The Bureau may address first-party debt collection activities under its unfair, deceptive and abusive practices (UDAAP) authority. The ANPR is the Bureau’s initial step towards issuing new rules regulating the relationship between creditors, third-party debt collectors and consumers.
- July 16, 2019July 16, 2019 The Honorable Frank Pallone The Honorable Greg Walden Chairman Ranking Member Committee on Energy & Commerce Committee on Energy & Commerce 2125 Rayburn House Office Building 2125 Rayburn House Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Pallone and Ranking Member Walden: On behalf of the Consumer Bankers Association (CBA) I write to share our...
- May 17, 2019On Friday, May 17, 2019, the CFPB issued a press release regarding filing a lawsuit in the federal district court in the Eastern District of New York against Forster & Garbus, LLP, a New York debt-collection law firm. The Bureau’s complaint alleges that Forster & Garbus violated the Fair Debt Collection Practices Act by representing to consumers that attorneys were meaningfully involved...May 17, 2019On Friday, May 17, 2019, the CFPB issued a press release regarding filing a lawsuit in the federal district court in the Eastern District of New York against Forster & Garbus, LLP, a New York debt-collection law firm. The Bureau’s complaint alleges that Forster & Garbus violated the Fair Debt Collection Practices Act by representing to consumers that attorneys were meaningfully involved...November 15, 2018 - 2:00PMPastSeptember 27, 2018 - 2:00PMPastSeptember 21, 2018D.C. DOWNLOAD Hurricane Florence Efforts: Banks are stepping up once again to help those impacted by natural disasters. Bank of America, Wells Fargo, Fifth Third, JPMorgan Chase, Bank OZK and Regions are among the many CBA members lending a hand and offering monetary support. CBA Default Management Committee (DMC) & Auto Finance Committee In-Person Meetings: This week, CBA HQ hosted the first...August 22, 2018On Wednesday, August 22, 2018, the Bureau released its latest quarterly consumer credit trends report , indicating one in five consumers has telecommunications-related collections on their credit report in the last five years. The report explored telecommunications-related debt and reporting to credit agencies nationwide. The Bureau outlined the prevalence and dollar value of telecom collections...June 13, 2018On Wednesday, June 13, 2018, the Bureau of Consumer Financial Protection announced a settlement with Security Group Inc . and its subsidiaries. In its Consent Order, the Bureau found alleged Security Group entities violated the Consumer Financial Protection Act by making improper in-person and telephonic collection attempts on consumer installment loans and retail sales installment contracts. The...April 6, 2018April 6, 2018 The Honorable Mike Crapo The Honorable Sherrod Brown Chairman Ranking Member Committee on Banking, Housing Committee on Banking, Housing & Urban Affairs & Urban Affairs U.S. Senate U.S. Senate 534 Dirksen Office Building 534 Dirksen Office Building Washington, D.C. 20510 Washington, D.C. 20510 Dear Chairman Crapo and Ranking Member Brown: The Consumer Bankers Association (...April 6, 2018April 6, 2018 The Honorable Jeb Hensarling The Honorable Maxine Waters Chairman Ranking Member Committee on Financial Services Committee on Financial Services U.S. House of Representatives U.S. House of Representatives 2129 Rayburn House Office Building 4340 O’Neill House Office Building Washington, D.C. 20515 Washington, D.C. 20151 Dear Chairman Hensarling and Ranking Member Waters: The Consumer...