On July 6, 2021, Presidents Jedd Bellman and John Ryan, of NACARA and CSBS, respectively, sent a letter to Department of Education (“ED”) Secretary Dr. Miguel Cardona. NACARA and CSBS ask the ED Secretary to rescind policies that obstruct or prevent state regulators from obtaining information and otherwise regulating collection activities relating to federal student loan servicing. Specifically, NACARA and CSBS ask ED to rescind its March 2018 preemption notice. NACARA and CS

The Consumer Financial Protection Bureau (CFPB) today announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned, on November 30, 2021. The CFPB issued a proposal in April 2021 that, if finalized, would have extended the effective dates to January 29, 2022.

FOR IMMEDIATE RELEASEMarch 27, 2020 Available as a PDF document: MESSAGE REGARDING COVID-19 HEALTH CRISIS In order to minimize the spread of the COVID-19 virus, governments at all levels have taken actions and imposed restrictions that may impact the collection of debt. Financial regulators are committed to providing timely updates and information to consumers and commercial debtors, financial institutions (including collection agencies), and fellow regulators on actions take

The Conference of State Bank Supervisors (CSBS) has made the first chapter of a new White Paper available on its website with plans to add additional chapters in the future. Please visit at the link below to read the paper: https://www.csbs.org/csbs-white-paper-reengineering-nonbank-supervision

If your state agency regulates third party debt collection or is working towards regulating debt collection in the future, consider the benefits of joining the North American Collection Agency Regulatory Association. Members have opportunities to communicate with other members on law changes and other regulatory matters, to work on developing tools for multi-state examinations and investigations, and to represent NACARA interests on external committees with other regulatory a

Reprinted in part from www.ftc.gov On November 4th, 2015, several NACARA members, along with the Federal Trade Commission and other law enforcement authorities around the country announced the first coordinated federal-state enforcement initiative targeting deceptive and abusive debt collection practices. This nationwide crackdown encompasses 30 new law enforcement actions by federal , state, and local law enforcement authorities against collectors who use illegal tactics

On April 27, 2015, the Conference of State Bank Supervisors (CSBS) announced the publication of three annual reports produced by multi-state regulatory groups, including the State Coordinating Committee (SCC), the Multi-State Mortgage Committee (MMC), and the Multi-State MSB Examination Task Force (MMET). In particular, the publication of the STATE COORDINATING COMMITTEE REPORT TO STATE REGULATORS 2014 details much of the work that NACARA members have been engaged with t

NACARA recently established several committees to focus on specific tasks relative to the Association’s efforts to improve regulatory efficiency and provide its membership more benefits. These committees include: The Regulatory Supervision Committee – A committee tasked with coordinating and monitoring joint examinations conducted by NACARA members; developing examination tools or programs for use by NACARA members; seeking methods to standardize examination practices amo

On February 28, 2014, NACARA submitted comment to the Consumer Financial Protection Bureau’s (CFPB) Advance Notice of Proposed Rulemaking regarding Debt Collection. In its comment, NACARA responded to multiple questions posed by the CFPB in an effort to provide information based on the insight and experience of NACARA’s various members. The comment represents the coordinated efforts of many member agencies with diverse perspectives on the collection agency industry and reg