CFPB Begins Comprehensive Rulemaking Process on Debt Collection
- On November 6, 2013, the Consumer Financial Protection Bureau issued an Advance Notice of Proposed Rulemaking (ANPR) on a wide variety of consumer protection issues related to debt collection.
- The ANPR signals the start of the Bureau's comprehensive rulemaking process to write regulations across virtually all aspects of the consumer debt collection market.
- The ANPR asks over 150 questions on a wide variety of topics, including: information quality, transfer and access; disputes; collector communications; technological developments; unfair, deceptive or abusive acts and practices; and time-barred debt.
- Comments are due on the ANPR by February 10, 2014.