Debt collectors must let borrowers know they will not be sued for a debt that is too old, according to a new proposal from the CFPB.

Before a district court in New York, the CFPB argued that its funding source, which falls outside the appropriations process, is constitutional. The case stems from a dispute arising out of a civil investigative demand.

CFPB-Education Department MOU; CFPB’s associate director for research, markets and regulation resigns; Puerto Rico reporting requirements; debt collection event.

The House Financial Services Committee passed eight bills on debt collection, including prohibiting the CFPB from issuing any rule that would allow collectors to contact borrowers with unlimited text messages and emails.

California enacted an amendment clarifying that mortgages are covered under the state’s debt collection law.

A recent House hearing highlighted differences on how the CFPB should strengthen fair debt collection practices.

CFPB Director Kathy Kraninger has adopted a balanced approach in public enforcement actions in recent months, according to an analysis by one law firm.

A bipartisan coalition of more than two dozen state attorneys general have urged CFPB Director Kathy Kraninger to reconsider the proposed debt collection policy.

The House Financial Services Committee will continue to provide oversight of CFPB activity, according to the panel’s fall priorities.

The CFPB recently fined Texas-based Maxitransfers Corp. $500,000 for violations of the Remittance Transfer Rule. This is the bureau’s first enforcement action under the Electronic Fund Transfer Act.