FTC Supports CFPB Proposal To Amend Debt Collection Practices

In comments supporting a CFPB proposal to amend the Fair Debt Collection Practice Act, the FTC recommended that the CFPB require collectors to adopt procedures to ensure that consumers receive notices.

As previously covered, the CFPB proposal to amend its Regulation F would, among other things:

• limit a debt collector's call attempts to seven times a week;
• require a debt collector to wait one week after speaking with a consumer before calling again;
• force debt collectors to send disclosures to consumers with debt information, such as itemizations of debt, and guidance on how consumers can respond to collection communication;
• allow emails, text messages and other new communication technologies to be used in collection communications; and