| Entities | |
| Topics and Issues | Debt collection (6) |
In March 2023, NCLC filed a petition with the CFPB to request rulemaking on three specific areas. In May 2023, CDIA filed a response to that petition. In its petition, NCLC made three requests:
- The CFPB should establish strict requirements to regulate the furnishing of information regarding a debt in collections by third-party debt collectors and debt buyers.
- The CFPB should require translation of consumer reports by the national consumer reporting agencies (CRAs) into the eight languages most frequently used by limited English proficient consumers.
- The CFPB should establish an Office of Ombudsperson to assist consumers who have been unable to fix errors in their consumer reports from the nationwide CRAs and other CRAs within the CFPB’s supervisory authority.
Announced in 2022, the Bureau allows the public to “submit petitions for rulemaking directly to the CFPB. The petitions will be posted on public dockets for review and comment.” In connection with the NCLC petition, comments are due May 8. CDIA is preparing a draft comment for member input, and we intend to respond to this petition.