August 19, 2019

August 19, 2019

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CFPB Extends Comment Deadline For Proposed Debt Collection Rules

In a notice to be published in tomorrow’s Federal Register, the CFPB is extending the comment deadline for its proposed debt collection rules until September 18.  The proposal’s initial 90-day comment period was set to expire on August 19.

The Bureau states in the notice that it received two written requests from consumer advocates and an industry trade group asking for either a 60- or 90-day extension of the comment period.  (We blogged about the letter sent by seven consumer advocacy groups to Director Kraninger requesting a two-month extension of the comment deadline.)  According to the Bureau, after balancing the desire of interested parties for additional time to prepare their comments with the Bureau’s interest in proceeding expeditiously with the rulemaking, it believes a 30-day extension is appropriate.

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About this Author

Stefanie Jackman, Ballard Spahr law firm, Partner, financial services institutions lawyer
Partner

Stefanie H. Jackman devotes her practice to assisting financial services institutions facing government investigations and enforcement actions, as well as defending them in individual and class action lawsuits. Ms. Jackman regularly handles matters arising under an array of federal and state consumer financial laws, including UDAP/UDAAP statutes, FDCPA, FCRA, TCPA, EFTA, SCRA, and TILA. Ms. Jackman represents clients across the financial services industry, including banks and nonbanks, mortgage banking lenders and servicers, debt collectors and buyers, third-party...

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