CFPB Official Tells Senate Panel FDCPA Needs Updating

Law360, Washington (July 17, 2013, 2:47 PM EDT) -- The Fair Debt Collection Practices Act is outdated and may need updating to prevent debt collection agencies from using loopholes in the law to harass consumers through new technologies, a Consumer Financial Protection Bureau official told a Senate Banking panel on Wednesday.

Corey Stone, the CFPB’s assistant director for the office of deposits, cash, collections and reporting markets, told a subcommittee of the U.S. Senate Committee on Banking, Housing and Urban Affairs that debt collectors are often unrestricted in the types of technology they use to...
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