The Federal Trade Commission has issued its summary of education and enforcement work, as it relates to the Fair Debt Collection Practices Act, to the Consumer Financial Protection Bureau to for inclusion in the Bureau’s annual report to Congress.
“Many of the FTC’s law enforcement actions focused on curbing egregious debt collection practices, including phantom debt collection. Additionally, this past year, two U.S. Courts of Appeals adopted favorable interpretations of the FDCPA in cases in which the FTC and CFPB had filed joint amicus briefs,” according to the FTC in a news release on its report.
The report summarizes what the FTC describes as a three-pronged effort:
1) Vigorous law enforcement;
2) Education and public outreach; and
3) Research and policy initiatives.
Although the report focuses most heavily on the FTC’s enforcement activities, the report also notes its collaboration with the CFPB regarding debt collection matters.
“[T[he FTC also continues to work closely with the CFPB to coordinate efforts to protect consumers from unfair, deceptive, and abusive debt collection practices,” the report states. “As part of this coordination, FTC and CFPB staff regularly meet to discuss ongoing and upcoming law enforcement, rulemaking, and other activities; share debt collection complaints; cooperate on consumer education efforts in the debt collection arena; and consult on debt collection rulemaking and guidance initiatives.”
In addition, the report describes the FTC’s continuing efforts to monitor and assess the debt collection industry, including through public workshops.
The complete FTC report with more details on policies, advocacy, enforcement and education is available online.
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