CFPB Could Avoid Fight With New Debt Collection Plan
By Evan Weinberger (June 9, 2017, 6:57 PM EDT) -- The Consumer Financial Protection Bureau's director on Thursday said the agency would look to rewrite rules for debt collectors' communications and disclosures with consumers before dealing with thornier questions on data accuracy, a move experts say could avoid opposition from Republicans, as there is wide agreement the rules need to be updated.
CFPB Director Richard Cordray said in a Thursday speech that separating the two parts of the bureau's efforts to update the implementation of the 1977 Fair Debt Collection Practices Act would allow regulators to move more quickly in updating the way the law treats communications via cellphone and other electronic methods....
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