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CFPB Resource Center

In 2010, the Dodd-Frank Act revised the Fair Debt Collection Practices Act and created the Consumer Financial Protection Bureau to protect consumers from “unfair, deceptive, or abusive” acts or practices by financial service providers, including debt collectors.  The CFPB began its work in July 2011 and in January 2012, President Obama appointed Richard Cordray to be the CFPB’s first director.

In November 2013, the CFPB took the first step toward considering rules for the debt collection market by issuing an Advance Notice of Proposed Rulemaking to collect information on the credit and collection industry.  At the same time, the CFPB began adding consumer complaints about debt collection to its public Consumer Complaint Database.  

In August 2016, the CFPB convened a panel under the Small Business Regulatory Enforcement Fairness Act to obtain feedback from small business representatives on its outline of debt collection proposals under consideration.  Now that the SBREFA panel meeting for third-party debt collectors has concluded, the CFPB is poised to issue a Proposed Rule that is expected to mark the most significant legal change to how debt collection is conducted in the United States since enactment of the FDCPA in 1977.  ACA is actively engaged in this process, working hard to ensure that the CFPB has an accurate and fair understanding of how its proposed policy changes will impact the collection industry. 

Below, ACA members will find a continually updated repository of CFPB-related materials. From valuable compliance and training information for both our smaller members and our larger market participant members, to ACA advocacy efforts and CFPB activity, ACA has created this comprehensive CFPB Resource Center to help your business remain informed. 

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