The CFPB and the FTC Should Divide Up Debt Collection Enforcement

With the election of Donald Trump, new leadership will soon be in place at the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).  Both of these agencies have the authority to bring enforcement actions against debt collectors.  The new leadership at the agencies ought to consider allocating to the CFPB primary enforcement responsibility for debt collectors who are larger participants in the market and to the FTC primary enforcement responsibility for debt collectors who are not.  Such an allocation would provide industry with more clarity and decrease burdens, and it would make government enforcement more efficient and accountable.

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John McNamara Officially Joins CFPB Leadership Team

The Consumer Financial Protection Bureau (CFPB) announced Friday that John McNamara will serve as the CFPB’s Assistant Director of Consumer Lending, Reporting, and Collections Markets. McNamara previously served in the same capacity in an acting role, and before that was the debt collection program manager at the Bureau. Prior to joining the Bureau, he was the chief marketing officer for LiveVox, a provider of cloud contact center solutions, and was the president, chief executive officer, and co-founder of Fidelis Recovery Solutions, Inc. Mr. McNamara has over 30 years of experience working in the debt collection market. Mr. McNamara received his B.A. and M.B.A. from Kennesaw State University.   

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FDCPA Case Law Review for November 2016

insideARM maintains a free FDCPA resources page to provide the ARM community a destination for timely and topical information on the Fair Debt Collection Practices Act (“FDCPA”). This page is generously supported by TransUnion. See the page here or find it in our main navigation bar from any page on insideARM. 

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