Tag Archives: CFPB

As the deadline to submit comments about the Consumer Financial Protection Bureau’s proposed debt collection rule inches closer, a new crop of comments have been published that oppose the provisions proposed by the CFPB, more than likely stemming from the efforts of a consumer advocacy group. More than 450 identical …

The Consumer Financial Protection Bureau yesterday announced a settlement with a debt collector regarding alleged violations of the Fair Debt Collection Practices Act, which will require the collector to pay $236,800 in fines and restitution. A copy of the consent order between the CFPB and Financial Credit Service, Inc., which …

Banks in Kentucky are very worried that the provisions of the Consumer Financial Protection Bureau’s proposed debt collection rule will apply to them, and have submitted a comment saying so. Generally speaking, banks do not have to comply with the Fair Debt Collection Practices Act because the law mainly applies …

A law professor who specializes in consumer protection issues has raised some concerns about whether the Consumer Financial Protection Bureau’s proposed debt collection rule provides a notification of the right for a consumer to receive verification of a debt when using the proposed rule’s model validation notice. Jeff Sovern, a …

A former director of the Federal Trade Commission’s Bureau of Consumer Protection, who is now a law professor and a board member of the National Consumer Law Center, has come out and blasted the Consumer Financial Protection Bureau’s proposed debt collection rule, accusing the bureau of violating “email 101” and …

Every week, AccountsRecovery.net brings you the most important news in the industry. But, with compliance-related articles, context is king. That’s why the brightest and most knowledgable compliance experts are sought to offer their perspectives and insights into the most important news of the day. Read on to hear what the …

A handful of consumer advocacy groups and unions filed their comments criticizing the Consumer Financial Protection Bureau’s proposed debt collection rule yesterday, and one hand-written note from a consumer illustrated how advocacy groups are raising awareness to get consumers to file comments opposing the proposed rule. The Service Employees International …

A number of pro-industry comments supporting the Consumer Financial Protection Bureau’s proposed debt collection rule were published yesterday, including one from a conservative think tank. The Competitive Enterprise Institute supported much of what the CFPB did in the proposed rule, even going as far as to urge the agency to …

The Consumer Financial Protection Bureau announced the hiring of a student loan ombudsman on Friday, but the individual who was hired has rankled consumer advocates and liberal lawmakers and the job description for the position appears to have changed from its original oversight responsibilities. Robert G. Cameron was named the …

Monday, Aug. 19 was due to be the original deadline for comments related to the Consumer Financial Protection Bureau’s proposed rule, before the deadline was extended by 30 days to Sept. 18. But at least a small handful of organizations appear to not need any additional time and filed their …