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Issue 1
               August 8, 2013

Collection Agency Licensees -  Please Note the Consumer Financial Protection Bureau's Bulletins Regarding the Collection of Consumer Debts 
Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Federal Consumer Financial Protection Bureau ("CFPB"), was created with debt collection activities being one of the areas under its jurisdiction.  On July 10, 2013, CFPB has released two bulletins regarding debt collections activities which should be of interest to licensees.  The bulletins contain (1) information on prohibited unfair, deceptive, or abusive acts or practices, and (2) information related to the effects of debt payments on credit reporting and credit scores.  


The State Collection Agency Licensing Board encourages all collection agency licensees to review the bulletins to assure that the information is consistent with current best practices policies.  


You can access the bulletins through the following links:


CFPB Bulletin 2013-07

Date: July 10, 2013

CFPB Bulletin 2013-08 (Fair Debt Collection Practices Act and the Dodd-Frank Act)

Date: July 10, 2013


Office of the Commissioner of Financial Regulation

Maryland Department of Labor, Licensing and Regulation

500 North Calvert Street, Suite 402

Baltimore, MD 21202-3651

410-230-6155 | Office    410-333-0475 | Fax


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