On April 17, Tom Pahl, managing regulatory counsel for the
Consumer Financial Protection Bureau Office of Regulations, spoke
at ACA International's Washington Insights Conference about the
CFPB's debt collection rulemaking. According to Pahl, the
CFPB currently is focusing on four debt collection related topics
for its proposed rulemaking:
- Communication issues;
- Data integrity and information issues;
- Informed consumer issues; and
- Regulation of first-party collections issues.
Pahl described how the CFPB is incorporating data from consumers
into the rulemaking process. For example, the CFPB sent out a
survey to consumers in an effort to obtain feedback from consumers
on typical experiences with debt collectors and changes consumers
would like to see in the debt collection industry. Pahl did
emphasize that consumer data was only one piece of data the CFPB
considers in forming its rulemaking agenda.
