On May 7, the CFPB issued a notice of proposed rulemaking to implement the Fair Debt Collection Practices Act (FDCPA). The CFPB's rules will be the first set of comprehensive regulations implementing the FDCPA since it was enacted in 1977. The proposed rules attempt to bring debt collection practices into the digital age, but several issues remain undefined:
- Who would be covered by the new rule and what is required?
- What impacts could the rule have on creditors?
- How will the new rule impact enforcement at the federal and state levels?
- What are the connections between these debt collection rules and broader laws prohibiting unfair, deceptive, and abusive acts or practices?
Join Obrea Poindexter, Kathleen "Kitty" Ryan, and Calvin Funk for an in-depth look at the key provisions in the proposed rules.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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