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CFPB Finds UDAAP and FDCPA Violations in Debt Collection Supervisory Exams

The CFPB Tuesday released its Supervisory Highlights report for Fall 2014. Among the highlights were recent examinations of larger market participant debt collectors resulting in identification of “an unfair practice and several violations of the Fair Debt Collection Practices Act” involving convenience fees, threats of litigation, bad training materials, and debt sales practices.

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Republican Senate Majority Would Increase Scrutiny of the CFPB, But Result in Few Changes

With a little more than a week to go before the Congressional mid-term elections, attention is shifting away from the potential results to what the outcome might mean for governance. If the Senate changes hands, committees will get new leaders, including the one that oversees the CFPB. Will the Senate behave like the House over the past two years in its oversight? Unlikely.