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.
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
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.