August 01, 2016

Collector magazine features Jonathan Pompan and Alexandra Megaris on CFPB regulation of the credit and debt collection industries

1 min

Venable partner Jonathan Pompan was quoted in the August 2016 issue of Collector magazine on the Consumer Financial Protection Bureau's (CFPB) regulation of credit and collection industry. Speaking on a panel at the ACA International 2016 Convention & Expo which included associate Alex Megaris, Pompan discussed how bureau currently conducts itself in the debt collection industry and what its plans are for the future.

Discussing an anticipated Notice of Proposed Rulemaking, Pompan said he expected it to cover multiple categories of business operations collection activities in a "soup and nuts" scope. "For all intents and purposes, it’s entirely possible that by the time the rule is out, the CFPB will have already done something related to the category it’s addressing, either through enforcement, supervision or amicus briefs," he added.