CFPB Clarifies Its Authority Over Debt Collectors

Law360, New York (July 10, 2013, 12:11 AM EDT) -- The Consumer Financial Protection Bureau on Wednesday announced it was “[putting] on notice” all companies under its jurisdiction that they will be held responsible for any unlawful consumer debt collection practices, after releasing a pair of bulletins clarifying its authority over debt collectors.

In the first of the bulletins, the agency said it was making clear what behaviors it considers might constitute unlawful unfair, abusive or deceptive debt collection practices subject to its oversight, as well as its stance that any company it is responsible for...
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