Just hours after the Consumer Financial Protection Bureau released its long-awaited larger participant rule outlining which debt collectors, debt buyers, and collection law firms will be subject to its examination, Ballard Spahr’s nationally-recognized Consumer Financial Services Group invited clients and friends to a webinar exploring the issue in-depth.

The webinar, What Debt Collectors, Debt Buyers and Collection Lawyers Need To Know about the CFPB Larger Participant Rule and CFPB Exams, will be held on November 6 from 11:30 – 1:00 pm ET. For more information, or to register, click here. Registration is free for industry participants.

The webinar will be moderated by Ballard Spahr Consumer Financial Services Group practice Leader Alan S. Kaplinsky. Partners John L. Culhane, Jr., and Christopher J. Willis will serve as panelists.  The attorneys in this group are already helping scores of debt buyers and collectors prepare for their first CFPB examinations. Donald Maurice, the president of Maurice & Needleman, will also participate in the webinar and address the controversy surrounding the CFPB’s decision to supervise collection law firms.

“This sector of the industry has never before been subject to examination and there is absolutely no room for mistakes when dealing with a federal agency with this much authority,” Mr. Kaplinsky said. “The adage holds especially true when dealing with the CFPB: Fail to Prepare. Prepare to Fail.”

The webinar will focus on the larger participant rule and explain what debt buyers, debt collectors, and collection lawyers need to do to prepare for the new scrutiny. During the program, attorneys will elaborate on the definition of a larger participant, outline the authority of the CFPB, explain how to challenge a larger participant determination, and walk listeners through the CFPB examination process.

Next Article: Portfolio Recovery Looking to Hire 100 in ...