The CFPB Debt Collection Rule: Compliance Considerations | November 17, 2020
The CFPB has issued its first of two anticipated final rules on debt collection. While the rule is based on the Fair Debt Collection Practices Act, its scope is limited to third-party debt collectors. Nevertheless, this rule has important effects on creditors. Creditors will be obliged to monitor the debt collectors they engage for compliance with this rule, although it is not applicable to creditors directly. Also, there are open questions about how the CFPB will use its UDAAP authority in the area of debt collection in the future. Please join our webinar for a discussion of this rule and the effects on the consumer finance industry.
Speakers :Hudson Cook (Chuck Dodge and Anastasia Caton)
Weltman, Weinberg & Reis (Sara Costanzo and David Head)