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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.
- January 28, 2021 - 2:00PMUpcomingDecember 3, 2020 - 2:00PMPastOctober 15, 2020Consumer Financial Protection Bureau Settles Lawsuit With Debt Collectors And Debt Buyers Encore Capital Group, Midland Funding, Midland Credit Management, And Asset Acceptance Capital Corp. On Thursday, October 15, 2020, the CFPB issued a press release regarding a filing for a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its...August 5, 2020Ms. McPartland: The Consumer Bankers Association (CBA) appreciates this opportunity to further comment on the Consumer Financial Protection Bureau’s (Bureau) amendments to the Fair Debt Collection Practices Act (FDCPA), focusing on disclosures of certain time-barred debts. CBA commented thoroughly on other issues related to revisions of the FDCPA during the initial comment period in 2019 and...July 22, 2020We’ve all heard it before: the coronavirus pandemic has created an economic disruption on a scale like no other. In real time, we are experiencing the next big economic downturn. For many Americans, income has been shorted while payments continue to pile up. What are your debt collections plans for the 11% of Americans who have recently lost their jobs and may need assistance to prevent default...May 21, 2020 - 11:00AMPastApril 21, 2020 - 1:00PMPastApril 1, 2020 - 2:00PMPastMarch 31, 2020Recovery and Resilience in Default Management - How banks can weather the storm and prepare for the future As the year began, some economists were bullish on the economy. Yes, there were signs that a recession could be coming: the US-China trade war, Brexit uncertainty, soft spending in Australia due to drought and bushfires, an inverted yield curve in the US bond market last summer. But no one...March 17, 2020 - 2:00PMPast