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What Does the CFPB Have to Do With My Debt Collection Claim?

FFGN COLLECT NY

If the individual owner or tenant owes the receivable and you seek payment from the individual through a debt collector , the CFPB will have a watchful eye. What is the Consumer Financial Protection Bureau? The CFPB determines how, where, and when you can pursue debt collection efforts against your consumer customer.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Federal Activities: On July 1, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new complaint bulletin covering several areas of concern on relief provided in response to the COVID-19 pandemic, including the Centers for Disease Control and Prevention (CDC) eviction moratorium. For more information, click here.

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Adjusting Policies and Procedures for the Dead Consumer

Consumer Financial Services Law

Because the Rule now addresses communications regarding dead consumers, it’s important to review skip trace policies and ensure policies are in place which will provide the debt collector with ample information as to the deceased consumer’s estate. Debt Validation Notice. Location Information.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

On July 15, the Connecticut Department of Banking fined a collection agency, after finding it had allegedly operated without proper licensing for about seven years. As part of the application process, the state conducted an investigation into the agency’s activities, which led to the Department of Banking’s finding.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Questions regarding the new law and answers provided by the Financial Institutions Division of the Nevada Department of Business and Industry can be found here. On June 25, multiple collection agencies and other plaintiffs filed suit in the U.S. For more information on the new law, click here. For more information, click here.