As the Consumer Financial Protection Bureau tries its hand at rulemaking and surveying in the debt collection industry, Ronald Canter - founder of The Law Offices of Ronald S. Canter, LLC and panelist at ARM-U – wrote about five key court cases the industry should look towards as precedent for the Bureau’s proposed reforms. But at the end of the day, it seems as though one major case is getting on everyone else’s…well…case. According to a recent insideARM.com poll, nearly 50 percent of you said you thought time-barred debt would be the first thing the CFPB addresses as it attempts to overhaul the Fair Debt Collection Practices Act.
Coming in at a distant second, 24 percent of you said you thought the CFPB would first address debt verification as a potential FDCPA reform. Individually, insideARM.com readers said they were also concerned about how the CFPB will address “frequent calls to the wrong person,” “cell phones” and “including creditors as third-party debt collectors.” Debt verification and time-barred debt were two of the key issues covered in the CFPB’s 162-question Advance Notice of Proposed Rulemaking earlier this year.
VIEW RESULTS-What do you think will be the CFPB’s first move in overhauling FDCPA?
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