House Fin’l Services Committee Postpones Debt Collection Hearing

The House Financial Services Committee has postponed its scheduled hearing on debt collection, without providing a reason or a new date.

Originally scheduled for Tuesday, June 25 at 10 AM, the hearing “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices” has been postponed until a “date to be determined” the committee announced on Friday, as part of a release updating its schedule for the month. Now, a hearing, “Overseeing the Fintech Revolution: Domestic and International Perspectives on Fintech Regulation” will be held at 10 AM on June 25 instead. The Fintech hearing was originally scheduled for 2 PM on June 25.

The Committee also announced that a proposed hearing, “Perspectives on Artificial Intelligence: Where We Are and the Next Frontier in Financial Services” will now be held on Wednesday, June 26 at 10 AM instead of the originally scheduled time of 2 PM. A markup hearing has also been scheduled for June 26 at 12:30 PM.

The hearing on debt collection would have been the Committee’s first hearing on the topic in more than six years.

The Committee is holding a hearing tomorrow at 10 AM, “An Examination of State Efforts to Oversee the $1.5 Trillion Student Loan Servicing Market.” Scheduled to testify at that hearing are:

  • Joe Sanders, Student Loan Ombudsman and Supervising Attorney, Consumer Fraud Bureau, Illinois Attorney General’s Office
  • Nicholas Smyth, Assistant Director for Consumer Financial Protection, Senior Deputy Attorney General, Pennsylvania Office of Attorney General
  • Arwen Thoman, Director, Student Loan Assistance Unit, and Investigations Supervisor, Massachusetts Attorney General’s Office
  • Joanna Darcus, Massachusetts Legal Assistance Corporation Racial Justice Fellow, National Consumer Law Center
  • Scott Buchanan, Executive Director, Student Loan Servicing Alliance

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