The CFPB extended the comment deadline an additional 60 days on a supplemental rule proposal to amend certain requirements on the collection of time-barred debts. The new comment deadline is August 4, 2020.
On March 20, 2019, the Supreme Court ruled that a law firm that carries out non-judicial foreclosure proceedings would not be considered a "debt collector" under the Fair Debt Collection Practices Act.
The Consumer Financial Protection Bureau provided its annual report to Congress on the administration of the Fair Debt Collection Practices Act. The report highlights CFPB and Federal Trade Commission efforts to combat unlawful debt collection practices.
The Consumer Financial Protection Bureau reported supervisory observations and exam findings in automobile loan servicing, deposits, mortgage servicing, and remittances between June 2018 and November 2018.
A payday retail lender entered into a Consent Order with the Consumer Financial Protection Bureau for alleged violations of the Consumer Financial Protection Act, the Gramm-Leach-Bliley Act and the Truth in Lending Act.
In the latest issue of "Supervisory Highlights," the Consumer Financial Protection Bureau reported on (i) supervisory observations between December 2017 and May 2018, (ii) remedial actions and (iii) supervision program developments.