Senators Ask for Reconsideration of CFPB Proposed Debt Collection Rule

Letter to CFPB Director Kathy Kraninger focuses on concerns with text messages and email communications in the proposed rule.

6/6/2019 1:00 PM

Senators Ask for Reconsideration of CFPB Proposed Debt Collection Rule

A group of Democrat and Independent senators addressed concerns with the Consumer Financial Protection Bureau’s proposed debt collection rule in a recent letter to Director Kathy Kraninger; specifically citing problems with the frequency and method of communication with consumers, as well as potential costs for permitted text messages.

USA Today reports that U.S. Sens. Bob Menendez, D-N.J., and Sherrod Brown, D-Ohio, are leading the effort and a total of 19 Democratic senators and two Independent senators signed on to the letter.

In the letter to Kraninger, “the senators express concerns over the cost of sending text messages to consumers who do not have unlimited texting wireless plans and have to pay per text,” according to the article.

For a quick overview of the proposed rule, please see the CFPB’s Fast Facts summary. ACA International members are also invited to share their feedback on the proposed CFPB debt collection rule in a member survey open through Wednesday, June 12.

Read the complete letter in the USA Today article.

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