CFPB Finds UDAAP and FDCPA Violations in Debt Collection Supervisory Exams

The Consumer Financial Protection Bureau (CFPB) Tuesday released its Supervisory Highlights report for Fall 2014. Among the highlights were recent examinations of larger market participant debt collectors resulting in identification of “an unfair practice and several violations of the Fair Debt Collection Practices Act.” The Bureau began its supervision of larger participant debt collectors in January 2013. <more>