Not many details are available yet, but a bill has been introduced in the House of Representatives that would amend the Fair Debt Collection Practices Act.
The text of the bill is not yet available online, but a summary of the bill says that the proposed legislation would amend the FDCPA:
to exclude law firms and licensed attorneys who are engaged in activities related to legal proceedings from the definition of a debt collector, to amend the Consumer Financial Protection Act of 2010 to prevent the Bureau of Consumer Financial Protection from exercising supervisory or enforcement authority with respect to attorneys when undertaking certain actions related to legal proceedings, and for other purposes.
The bill was introduced yesterday by Rep. Vincente Gonzalez [D-Texas]. The bill has been referred to the House Financial Services Committee for review and approval. Rep. Gonzalez is a member of the House Financial Services Committee. This is the first of the three bills he has sponsored during this session of Congress related to debt collection. More details about the bill will be shared as they become available.
