Reaction to the Rules
Late last week, the Consumer Financial Protection Bureau released an outline of proposed new rules governing the debt collection industry. This outline was a long time coming and represents the biggest proposed changes to the regulation of the industry since the passage of the Fair Debt Collections Practices Act nearly 40 years ago.
The industry trade publication insideARM contacted 15 industry insiders to get reaction to the new rules, including Linebarger Goggan Chief Compliance Officer Lori Gruver. She offered a generally positive response. Read Lori and her peers’ comments here.