CFPB to hold Town Hall in Philadelphia
The CFPB (Consumer Financial Protection Bureau) has announced that it will hold a Town Hall to take place in Philadelphia, Pennsylvania beginning at Noon on May 8, 2019. The event will feature remarks from Director Kraninger as well as comments from community groups, industry representatives, and members of the public.
Although the CFPB did not indicate the purpose of the Town Hall, I strongly believe that the CFPB will use the occasion to issue its Notice of Proposed Rulemaking (the “NPRM”) regarding third-party debt collection. This makes sense in light of Director Kraninger’s recent announcement at the Bipartisan Policy Institute that the NPRM will be released “in the coming weeks.” We will be closely covering the Town Hall and the issuance of the NPRM.