The CFPB has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel. The Small Business Regulatory Enforcement Fairness Act (SBREFA) and the Dodd-Frank Act require the CFPB to convene such a panel when developing rules that may have a significant economic impact on a substantial number of small businesses. While changes may result from input provided by the small entity representatives selected to meet with the SBREFA panel, the outline provides a preview of the approach the CFPB is likely to take in a proposed debt collection rule.

It is clear from the outline that CFPB's rulemaking will dramatically alter the debt collection landscape and affect all aspects of the collection process. In this webinar, we will review the key provisions of the proposals under consideration and make our own predictions about where we believe the CFPB will come out when it proposes a debt collection rule.

Topics

The topics to be addressed in our webinar will include:

  • Who the proposal will cover
  • What the CFPB is likely to propose regarding:
- New requirements for debt sales
- New debt substantiation requirements covering the entire collection process
- New limits on debt collector communications, including limits on the frequency of debtor and third-party contacts
- New disclosures, including changes to the FDCPA validation notice, a new "Statement of Rights," and new disclosures for time-barred debt
  • The SBREFA process and likely timing of a proposed and final rule

Date & TIme

Wednesday, August 31, 2016
12:00 PM - 1:00 PM ET

Moderator

Alan S. Kaplinsky
Practice Leader
Consumer Financial Services

Speakers

Christopher J. Willis
Practice Leader
Consumer Financial
Services Litgation

John L. Culhane, Jr.
Consumer Financial Services

Stefanie H. Jackman
Consumer Financial Services

Gary W. Becker

Consumer Financial Services

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for CLE credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Daniel Martin at martind@ballardspahr.com.

Register