Expect CFPB Proposals on Debt Collection & Credit Reporting This Year

Answered by:

Question:

What is an example of a rule we can expect the CFPB to propose this year?

Answer:

Between October 2017 and September 2018, the CFPB received approximately 329,000 consumer complaints. Credit reporting accounted for 37% of these complaints, while 25% were related to debt collection. Therefore, we can expect to see a proposal for rules related to one or both issues later this year.
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New CFPB Expectations: Compliance in 2019