Debt holders

California's DFPI issues subpoenas to debt collectors


The state agency alleged potential violations of “unlawful, unfair, deceptive or abusive” practices by a dozen companies.


What debt collectors can and can't do under CFPB rule


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.


CFPB gets tough with debt collectors as it readies rule


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.


Senate rescue plan aims to calm depositors, debt holders


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.


House lawmakers spar over CFPB debt collection rule


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


CFPB plan a mixed bag for debt collectors


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.


CFPB announces debt collection town hall as it preps new proposal


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


How far will CFPB go to modernize debt collection rules?


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.


CFPB orders private student loan trust and debt collector to pay $21.6M


The CFPB has ordered National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, to pay at least $21.6 million.