ABSTRACT

CFPB Proposes New Debt Collection Regulation [Updated October 11, 2019]   [open pdf - 517KB]

From the Document: "On May 21, 2019, the Bureau of Consumer Financial Protection (CFPB) issued a Notice of Proposed Rulemaking to implement the Fair Debt Collection Practices Act (FDCPA; 15 U.S.C. §1692). Congress passed the FDCPA in 1977 to 'eliminate abusive debt collection practices by debt collectors.' The CFPB's proposal would clarify how certain debt collectors may communicate with consumers and what information they must disclose. This Insight begins with an overview of the debt collection market and its regulation. It then analyzes major parts of the CFPB's proposed rule and reactions to the proposal by various stakeholders."

Report Number:
CRS Insight, IN11140
Author:
Publisher:
Date:
2019-10-11
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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