CFPB To Intertwine “Right Consumer, Right Amount” Creditor and Debt Collector Rules

From: insideARM

Written by: Stephanie Eidelman

Today CFPB Director Richard Cordray announced that the Bureau will be separating the “right consumer, right amount” aspect of its debt collection rulemaking in order to ensure that complexities are properly addressed by intertwining rules for both creditors and their clients.

At its summer meeting of the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board, Director Cordray’s opening remarks addressed multiple topics, including:

  1. Transparancy in the credit card market
  2. CFPB research into credit invisibility
  3. The CFPB’s mandate to collect data on the availability of credit to small business
  4. Debt collection rulemaking

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