Volume 25 - Number 19
September 15, 2014
Is a Uniform Code for the Debt- Buying Industry In the Works?
The CFPB is reviewing the debt collection practices of debt buyers as part of its broader expected rulemaking on debt collection. According to Alan Kaplinsky, a practice leader with the Ballard Spahr law firm in Philadelphia, those practices could become the subject of a uniform state debt-buying code if the newly authorized Study Committee on the Transfer and Recording of Consumer Debt concludes that a uniform code will produce significant benefits to the public. The new panel was authorized this summer by the non-partisan Uniform Law Commission. The ULC noted that the Office of the Comptroller of the Currency in 2013 issued a “best practices” document that expressed concern about safety, soundness and consumer protection issues involved with such sales ...
Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.
You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.
Please contact Customer Service if you need assistance: 1-800-570-5744