What To Expect In CFPB's New Debt Collection Rule

Law360, New York (April 25, 2016, 11:00 AM EDT) -- The Consumer Financial Protection Bureau published its fifth annual report summarizing activities to administer the Fair Debt Collection Practices Act on March 22. The report does not provide a date to expect the CFPB's new rule on debt collection, but does provide a summary of rule promulgation efforts to date. The rule has been on the agenda of the CFPB for quite some time, as such it is widely suspected that the rule will be issued sometime this year or possibly early 2017. If we look at the original advance notice of proposed rulemaking (ANPR), the CFPB's customer complaint data, and the recent amicus briefs filed by the CFPB on FDCPA issues, we can make a good guess at what the rule will look like....

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