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CFPB Moving Forward With Debt Collection Survey

The Consumer Financial Protection Bureau is moving forward with its plan to survey 8,000 individuals to inquire about disclosures that are made related to debt collection.

The CFPB had announced the survey back in August, at the same time it announced it was changing tack on its proposed debt collection rulemaking. Notification of the survey is scheduled to be published in tomorrow’s Federal Register. Upon publication in the Federal Register, comments will be accepted on the proposal for 30 days.

From the notification about the scheduled publication: The survey will explore consumer comprehension and decision making in response to debt collection disclosure forms. The survey will oversample respondents who have had experience with debt collection in the past.

Comments are being solicited on the following topics:

  • Whether the collection of information is necessary for the proper performance of the functions of the Bureau, including whether the information will have practical utility
  • The accuracy of the Bureau’s estimate of the burden of the collection of information, including the validity of the methods and the assumptions used
  • Ways to enhance the quality, utility, and clarity of the information to be collected
  • Ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology

Comments can be filed by going to www.regulations.gov and using CFPB-2017-0037 as the docket number.

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