Last year, the CFPB was extremely active in the debt collection and debt buying space, issuing several significant consent orders and providing a glimpse into what its proposed debt collection and debt buying rulemaking might look like. And the CFPB shows no sign of stopping, already issuing yet another set of debt-related consent orders in early 2016. The FTC also is very active in this space and shares overlapping jurisdiction with the CFPB. It is expected that both regulators will remain focused throughout 2016 on implementing what they view to be necessary changes with regard to industry-wide debt collection and purchasing practices.

As a result, the industry is grappling with several common questions:

  • How much documentation do I really need to engage in collection activity, validate a debt, resolve a dispute, or create an affidavit for litigation?
  • Should I even bother with credit reporting? What are the risks and benefits?
  • What kind of oversight does the CFPB expect me to exercise over my collection counsel? What oversight is my counsel required to exercise over me? What about other vendors – do I really have to supervise all of them?
  • How do I minimize my risk in collecting or suing on a portfolio?
  • Can I buy or sell debt? If so, how do I do so in a way that is compliant?

Our panel will provide a roadmap for how your company can approach and resolve these issues. Effective debt collection is a vital aspect of the credit system and we will share practical tips and real-world experiences that bear on what you need to consider in connection with negotiating collection contracts, uploading and maintaining account-related information and documentation, calling consumers, furnishing information to credit bureaus, negotiating payments and resolutions, commencing litigation or other legal remedies to collect, and buying or selling debts. After the webinar, attendees will have a solid, cohesive understanding of the current compliance environment, as well as a platform from which to begin planning for the future to ensure their companies can move forward towards achieving desired operational goals.

Date and Time

Tuesday, March 15, 2016
12:00 PM – 1:00 PM ET

Moderator

Alan S. Kaplinsky, Practice Group Leader
Consumer Financial Services Group

Speakers

Stefanie H. Jackman
Consumer Financial Services Group

Christopher J. Willis
Consumer Financial Services Group

Gary W. Becker
Consumer Financial Services Group

This program is open to Ballard Spahr clients interested in debt collection and debt buying after the 2015 consent orders. 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 Eva M. D'Ignazio at dignazioe@ballardspahr.com.

Register