On October 24, the Consumer Financial Protection Bureau issued its long-awaited larger participant rule announcing which debt collectors, debt buyers, and collection law firms are subject to its examination. The rule will become effective on January 2, 2013. At this webinar, we will discuss the rule in detail and tell you what you need to do now to prepare for the CFPB's new scrutiny of debt collection operations. We will also discuss the special exam manual that the CFPB issued on October 24.

Topics

  • The authority of the CFPB to supervise debt collectors, debt buyers, and collection law firms, either as service providers or as larger participants
  • The key terms from the rule and from Dodd-Frank that dictate whether your company is a larger participant in the debt collection market
  • The threshold test that determines whether and for how long your company is deemed to be a larger participant in the market
  • How to challenge a larger participant determination and how to assess the likelihood of successfully doing so
  • The CFPB exam process: when it will begin, whom it will target, what it involves, and how to prepare in the time remaining
  • The legality of the rule's coverage of collection lawyers

Moderator

Alan S. Kaplinsky, Practice Leader
Consumer Financial Services Group

Panelists

John L. Culhane, Jr., Partner
Consumer Financial Services Group

Donald Maurice, President
Maurice & Needleman, P.C.

Christopher J. Willis, Partner
Consumer Financial Services Group

There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Lisa M. Prickril at prickrill@ballardspahr.com.