The Bureau of Consumer Financial Protection (BCFP, or CFPB) has issued its spring rulemaking update. Once again, debt collection remains on the docket, but is pushed down the road. A process that began with an Advanced Notice of Proposed Rulemaking (ANPR) in 2013, is now scheduled to produce a Notice of Proposed Rulemaking (NPR) in March 2019. And that's still not the end of it.
As the latest notice reads,
"The Bureau has been engaged in research and pre-rulemaking activities regarding debt-collection practices. Debt collection continues to be a top source of complaints to the Bureau. The Bureau has also received encouragement from industry to engage in rulemaking to resolve conflicts in case law and address issues of concern under the Fair Debt Collection Practices Act (FDCPA), such as the application of the FDCPA to modern communication technologies under the 40-year-old statute. The Bureau released an outline of proposals under consideration in July 2016, concerning practices by companies that are debt collectors under the FDCPA, in advance of convening a panel in August 2016, under the Small Business Regulatory Enforcement Fairness Act in conjunction with the Office of Management and Budget and the Small Business Administration’s Chief Counsel for Advocacy to consult with representatives of small businesses that might be affected by the rulemaking. The Bureau is preparing a proposed rule focused on FDCPA collectors that may address such issues as communication practices and consumer disclosures."
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