Committee Meets Today on Bill to Exempt Lawyers from FDCPA

Today the Practice of Law Technical Clarification Act of 2017, along with a list of other proposed legislation, will be considered by the Committee on Financial Services. 

The law is proposed as an amendment to the Fair Debt Collection Practices Act (FDCPA) to exclude law firms and licensed attorneys who are engaged in activities related to legal proceedings from the definition of a debt collector, to amend the Consumer Financial Protection Act of 2010 to prevent the Bureau of Consumer Financial Protection from exercising supervisory or enforcement authority with respect to attorneys when undertaking certain actions related to legal proceedings, and for other purposes. 

On December 14, 2017 insideARM published an article on this topic by Thomas B. Pahl (Acting Director of the Bureau of Consumer Protection at the Federal Trade Commission) and Mathew J. Wilshire (a Senior Attorney in the Division of Financial Practices at the FTC), supporting the concept in the proposed legislations. Note: the views represented were their own and not necessarily the position of the FTC. 

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