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House Committee Reschedules Collection Hearing

A hearing that was originally scheduled for late June before the House Financial Services Committee on the topic of debt collection has been rescheduled for Thursday, Sept. 26 at 10 a.m. EDT.

The hearing, “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices” will be held before the full Financial Services Committee.

Rep. Maxine Waters [D-Calif.], the chairwoman of the Financial Services Committee announced the September hearing schedule yesterday.

A hearing on the same topic was originally scheduled for June 25, but was canceled two weeks before it was due to be held. No reason was given for the postponement.

If this meeting goes off as scheduled, it will be the first collection-related hearing before the Financial Services Committee in more than six years.

The announcement of the hearing did not include any mention or reference to the legislation that will be discussed. Rep. Waters has introduced legislation to overhaul the Consumer Financial Protection Bureau and the House and Senate are both working on bills aimed at stopping robocalls, but there have been no major collection-related bills introduced during this session of Congress. No witnesses for the hearing have been announced yet, either.

Also of interest to the collection and credit industry will be a hearing before the full committee on Tuesday, Sept. 10 at 10 a.m. on the topic of “A $1.5 Trillion Crisis: Protecting Student Borrowers and Holding Student Loan Servicers Accountable.”

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