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CFPB Crackdown on First-Party Collectors

What role does the CFPB play in regulating the debt collection industry?

The CFPB can subject all debt collectors to supervision and examination in addition to enforcement actions. The Bureau is also working to release a proposed rule concerning FDCPA collectors' communications practices and consumer disclosures. Further, because 25% of the complaints the CFPB received between October 2017 and September 2018 were related to debt collection practices, you can expect the Bureau to continue cracking down on the industry.
Learn more about Carly Souther’s webinar
New CFPB Expectations: Compliance in 2019

First published on 03/24/2019

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