CFPB Sets Comment Deadline on Out-of-Statute Debt Proposal

ACA International will be working on a comprehensive comment, with member feedback, to the bureau. Register for Hot Topic Webinar on Wednesday for more insights from ACA.

3/3/2020 8:30 AM

CFPBNewsAdvocacy
CFPB Sets Comment Deadline on Out-of-Statute Debt Proposal

The opportunity to share industry feedback on the Consumer Financial Protection Bureau’s Supplemental Notice of Proposed Rulemaking (SNPRM) concerning out-of-statute debt is now open through June 5, 2020.

ACA International will be working on a comprehensive comment to the CFPB and will seek member feedback for the response to the bureau as well.

The SNPRM presents a critical opportunity for the industry to weigh in on the costs and compliance implications of proposed out-of-statute debt disclosures and related revival disclosures; the circumstances under which those disclosures would apply; the advisability of the proposed knowledge standards; and the adequacy of the purported safe harbor.

With the comment deadline in place, ACA will be seeking feedback from the accounts receivable management industry to assist the association in preparing a comprehensive comment it will file on behalf of its members. ACA will also work with individual members and companies to obtain their thoughts and concerns regarding the proposal, which ACA will in turn provide to the CFPB as part of its advocacy efforts.

Read more on the SNPRM in ACA’s preliminary analysis.

The CFPB published the SNPRM in the Federal Register with three options to file comments using Docket No. CFPB-2020-0010 or RIN 3170-AA41.

Commenters may file online using the Federal eRulemaking Portal: http://www.regulations.gov.

Email: 2020-NPRM-DebtCollection@cfpb.gov. Include Docket No. CFPB-2020-0010 or RIN 3170-AA41 in the subject line of the email.

Mail/Hand Delivery/Courier: Comment Intake, Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, D.C. 20552.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

CFPB Sets Comment Deadline on Out-of-Statute Debt Proposal

The opportunity to share industry feedback on the Consumer Financial Protection Bureau’s Supplemental Notice of Proposed Rulemaking (SNPRM) concerning out-of-statute debt is now open through June 5, 2020.

ACA International will be working on a comprehensive comment to the CFPB and will seek member feedback for the response to the bureau as well.

The SNPRM presents a critical opportunity for the industry to weigh in on the costs and compliance implications of proposed out-of-statute debt disclosures and related revival disclosures; the circumstances under which those disclosures would apply; the advisability of the proposed knowledge standards; and the adequacy of the purported safe harbor.

With the comment deadline in place, ACA will be seeking feedback from the accounts receivable management industry to assist the association in preparing a comprehensive comment it will file on behalf of its members. ACA will also work with individual members and companies to obtain their thoughts and concerns regarding the proposal, which ACA will in turn provide to the CFPB as part of its advocacy efforts.

Read more on the SNPRM in ACA’s preliminary analysis.

The CFPB published the SNPRM in the Federal Register with three options to file comments using Docket No. CFPB-2020-0010 or RIN 3170-AA41.

Commenters may file online using the Federal eRulemaking Portal: http://www.regulations.gov.

Email: 2020-NPRM-DebtCollection@cfpb.gov. Include Docket No. CFPB-2020-0010 or RIN 3170-AA41 in the subject line of the email.

Mail/Hand Delivery/Courier: Comment Intake, Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, D.C. 20552.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

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