CFPB's Bank Warning Hints At Coming Debt Collection Rules

Law360, New York (July 10, 2013, 8:16 PM EDT) -- The Consumer Financial Protection Bureau's Wednesday warning to banks that they will be held liable for debt collectors' consumer mistreatment also signaled that the agency will likely establish rules further refining what constitutes an abusive practice and calling for more disclosures to consumers.

In the first of a pair of bulletins, the CFPB described what it considers to be unlawful unfair, abusive or deceptive debt collection practices subject to its oversight. The bureau also made clear that it will bring enforcement actions against companies like banks...
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