News Topic: Debt holders

The agency’s final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal. ... Read full article

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance. ... Read full article

While analysts agree banks are in better shape than in 2008, lawmakers are dusting off a crisis-era tool used by the Federal Deposit Insurance Corp. to soothe potential liquidity fears during the coronavirus pandemic. ... Read full article

A hearing on legislative proposals exposed a sharp partisan divide over a regulatory plan to restrict the frequency of collection calls. ... Read full article

The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications. ... Read full article

The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors. ... Read full article

A key question is whether the agency will restrict the ability of firms to track down delinquent borrowers with emails and text messages, which weren't in use when current regulations were adopted. ... Read full article