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The Consumer Financial Protection Bureau and the Federal Trade Commission, which share enforcement responsibilities under the Fair Debt Collection Practices Act released a joint report on their efforts to combat illegal debt collection practices in 2017.
The rule, an update to the 2016 mortgage servicer rule, is aimed at improving communication between mortgage servicers and consumers in bankruptcy. It goes into effect April 19.
The group of 38 Senators and 75 Representatives, led by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), filed the brief late last week.
The bureau is seeking comments and information from interested parties on “ways to engage the public and receive feedback on the work of the agency.”
The request for information on supervision processes is the fourth in what looks to be a lengthy list of reviews from the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau will continue its more low-key, hands-off approach to consumer protection and regulation, one which equally emphasizes the rights of the regulated.
Kirsten Sutton Mork was serving as staff director of the House Financial Services Committee under Chairman Jeb Hensarling (R-Texas) prior to being appointed by CFPB acting director Mick Mulvaney.
The changes adjust requirements for resolving errors on unregistered accounts and provide greater flexibility for credit cards linked to digital wallets as well as delaying implementation until April 2019.
In the latest change at the CPFB, acting director Mick Mulvaney requested $0 from Federal Reserve Chair Janet Yellen for the second quarter, instead proposing to pull from a back-up fund created by former director Richard Cordray.
Mick Mulvaney
The Consumer Financial Protection Bureau will reconsider its recently issued and highly controversial payday lending rule, it said in a statement issued today.