Podcast: Proposed CFPB Debt Collection Rule
Listen to a podcast covering the operational and legal ramifications of the proposed debt collection rule shared in the spring of 2019 by the CFPB.
Financial institutions will eventually find themselves governed by new rules mandated by the Consumer Financial Protection Bureau. Such regulations are set to change the debt collections process, requiring the industry to substantially modify their existing communications methods and adjust their operating models. The Bridgeforce team, including Managing Partner, Andrew Domino and Chris Willis and Stefanie Jackman from Ballard Spahr teamed up to discuss how to prepare operations and handle legal issues should the Consumer Financial Protection Bureau’s proposed debt collection rule becomes final. Topics included operational approaches available to companies in implementing the rule and legal considerations raised by each, the need for an assessment of assets before selecting an approach and the role of legal advice, and the role of future planning.
You’ll hear facts and information on:
- Operational approaches to implement the rule
- Legal considerations raised by the rule
- Asset assessments
- Role of legal advice
- Importance of future planning