Answer:
According to its March 2019 report to Congress, the Consumer Financial Protection Bureau (CFPB) is expected to issue a notice of proposed rulemaking this spring to address a number of issues related to debt collection, including communication practices and consumer disclosures.
The Report, which summarizes the CFPB's and the Federal Trade Commission's (FTC's) joint efforts to enforce the FDCPA and educate consumers about debt collection, noted that the Bureau received approximately 81,500 complaints about first-party and third-party debt collection in 2018, making debt collection one of the most prevalent topics of consumer complaints about financial products and services received by the Bureau.
Likewise, the CFPB engaged in in six public enforcement actions arising from alleged FDCPA violations. The Bureau brought an action that resulted in an $800,000 civil penalty. It also accepted a judgment in favor of the defendant in a second case. Four other FDCPA cases remain in active litigation. The Bureau also filed briefs amicus curie in two cases arising under the FDCPA: one in the Supreme Court and the other in a federal court of appeals.
This webinar will take an in-depth look at the anticipated new collection regulations, and will equip you to implement best practices for collecting past due accounts in 2019.
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Learn more about Carly Souther’s webinar Compliant Collections (Do it the Right Way)
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