The CFPB, in alignment with its continuing focus on debt
collection, will hold a
Debt Collection Field Hearing in Seattle, Washington on October
24, 2012. The CFPB previously released a report to Congress on its
efforts to enforce the Fair Debt Collection Practices Act
(see April 17, 2012
Alert) and filed a joint amicus brief with the
FTC and DOJ urging the Supreme Court to overturn a circuit court
opinion interpreting the cost-shifting provision in the FDCPA to
impose attorneys' fees on a debtor (see August 21,
2012
Alert). The CFPB has not yet issued a final rule defining
"larger participants" of the debt collection market
(see February 21, 2012
Alert), but the CFPB will likely issue a rule soon given
that prior to the field hearing on the consumer reporting market,
the CFPB released its final rule defining "larger
participants" of the consumer reporting market (see
July 24, 2012
Alert).
