CFPB Wants to Know Your Priorities Related to the FDCPA

Last week the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) regarding Adopted Regulations and New Rulemaking Authorities. As it relates to the ARM industry, this is a fancy title for, “tell us what you think of the FDCPA.”

You can download the complete RFI here. The 90-day comment period is expected to close approximately June 19, 2018.

While the recent RFI regarding rulemaking processes specifically noted that the Bureau is not looking for suggestions regarding any specific rule, but instead is seeking input on the process itself, this RFI provides a different opportunity. In this case, the CFPB is looking for input on the substance of the regulations, including whether the Bureau should issue additional rules. (emphasis added)

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