Bureau Includes Attorneys Within Scope of Debt Collection Oversight
October 29, 2012
Last week, the CFPB issued its final rule for overseeing debt collectors which will allow the agency to supervise the larger consumer debt collectors and included attorneys among those who are going to be subject to direct federal supervision for the first time. That leaves some observers wondering if enforcement actions will be next. Also, with this expansion of the supervision program to oversee nonbanks that are larger participants in the consumer debt collection market, the bureau is now going to be able to...