ACA International has resources available to assist you in filing comments with the CFPB. We encourage you to participate in our grassroots advocacy efforts before the Sept. 18 comment deadline. Editor’s note: This content is available to members only.
9/4/2019 8:30
The Consumer Financial Protection Bureau’s comment period on the proposed rule to modernize the Fair Debt Collection Practices Act is ending Sept. 18, 2019, but there are still several ways to be a part of ACA International’s grassroots advocacy on behalf of members and the accounts receivable management industry.
ACA encourages members to participate in our grassroots campaign to contact the CFPB and Congress as well as file individual comments. Both are important for different reasons. Weighing in on grassroots efforts is important to counter campaigns criticizing the industry, and to communicate directly with Congress. This will be critical as we approach the Sept. 26 hearing in the House Financial Services Committee titled, “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices."
Companies, state units, and other interested parties are encouraged to file individual comments. While ACA encourages members to individualize their comments, the template below may be used as a tool for drafting comments.
Comment Letter Template
Subject line: Comments of (“Insert Company Name”) Debt Collection Practices (Regulation F) [Docket No. CFPB-2019-0022]
Intro: (“Insert Company Name”) submits these comments in response to the request by the Bureau of Consumer Financial Protection (“CFPB” or “Bureau”) for comments in response to its Notice of Proposed Rulemaking concerning Debt Collection Practices (Regulation F).
Background Information: Provide background information about your company including information such as:
- Number of employees
- Length of time in business
- Benefits you provide to your community and creditors
- Whether you qualify as a small business
- Type of debt you collect
- Information about individual and industry-wide stats see: https://www.acainternational.org/assets/advocacy-resources/aca-fact-sheet.pdf
- Any other helpful information to paint a picture about the work you do
Comments: Provide your thoughts on aspects of the CFPB’s proposal and how it could affect your business/ability to operate, creditors you serve, etc. Below ACA is providing a summary of the proposed rule and some of the high-level points we encourage you address. However, we encourage members filing comments to make their letters unique to their business or state unit.
Click here for a summary of the proposed rule.
Click here for a high-level summary of the points that will be addressed in ACA's comments.
Conclusion: Thank the CFPB for the opportunity to comment and provide contact information in case they have further questions about your comments.
How to File
- Click on this link: https://www.regulations.gov/docket?D=CFPB-2019-0022
- Then click – Comment Now!
- Upload your comment and fill in details with your information, then click continue.
- Or, email to: [email protected]. Include Docket No. CFPB-2019-0022 or RIN 3170-AA41 in the subject line of the email.
ACA will continue to work closely with the CFPB to advocate on behalf of the accounts receivable management industry and to ensure that the final rule will be beneficial for the ARM industry and consumers alike.
For more information about how to file comments, contact Vice President and Senior Counsel, Federal Advocacy Leah Dempsey at [email protected].