CFPB to hold debt collection town hall May 8

by NAFCU Newsroom

The CFPB will hold a town hall focused on debt collection May 8. The bureau’s fall rulemaking agenda indicated that it would issue a rule related to debt collection practices this spring; NAFCU maintains that credit unions should not be the target of future debt collection rules.

NAFCU will attend next week’s town hall in Philadelphia, Pa., which is scheduled to begin at 12 p.m. Eastern; it will also be available via livestream. Register to attend in person or access the livestream here.

The bureau recently released an annual report to Congress on its enforcement of the Fair Debt Collection Practices Act (FDCPA). The report revealed that debt collection was the most prevalent topic of consumer complaints in 2018; it also highlighted efforts by the bureau and the Federal Trade Commission (FTC) to stop unlawful debt collection practices.

 

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