NCLC’s Influence on State Law Policy: 3 Things You Should Know

thewet / Adobestock

When it comes to debt collection, state legislatures have been busy lately. ARM industry professionals have noticed it, the CFPB has encouraged it (see herehere, and here), and it may feel as if the industry is under pressure from all sides with some of the recent legislation and regulations. You might be wondering where some of these ideas are coming from and why it feels like there’s an uptick. One possible explanation, is the actions, rhetoric, and push for this type of legislation from the National Consumer Law Center (NCLC). Recently, NCLC provided a debt collection State Policy Resource that offers model legislation along with data, research, and consumer friendly studies. Here are the top three things you need to know about it:

1. Model Legislation Proposals

One of the NCLC’s aims is to impose stricter regulations on consumer debt collection practices. To that end, the State Policy Resource provides model legislation to affect different areas of debt collection: contracts and exemptions, wage garnishment, statutes of limitations, and medical debt. 

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