The Safe Harbor Debt Collection Law Update by Aylix Jensen
May 2022
This monthly newsletter provides an update of changes and developments in the law that impact the debt collection industry. It highlights new debt collection laws and practices, discusses what these may mean for the collection industry, and provides tips to ensure compliance. 
Aylix K. Jensen
Aylix K. Jensen is a member of Moss & Barnett's financial services team. She practices in the areas of compliance and litigation related to the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, and the Telephone Consumer Protection Act, as well as other related state and federal law and regulations.

Aylix K. Jensen
The basic principle of the Telephone Consumer Protection Act (“TCPA”) is that it seeks to prohibit a company from making “any telephone call to any residential telephone line using an artificial or prerecorded voice to deliver a message without the prior express consent of the called party.” 47 U.S.C. § 227(b)(1)(B). While the provision of consent is not a new topic in the TCPA, revocation of consent is still a developing concept. MORE >
On May 2, 2022, the CFPB issued its Supervisory Highlights for spring 2022 (the “spring 2022 Report”), which highlights legal violations identified by the CFPB’s examinations between July 2021 and December 2021. The findings in the spring 2022 Report cover the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. The spring 2022 Report also summarizes recent developments in the CFPB’s supervision program and remedial actions. MORE >
Several courts have interpreted the text of the FCRA to require furnishers to reasonably investigate factual questions, but not disputed legal issues such as whether a consumer is liable for a reported debt. Yet, the CFPB now argues that the FCRA does not exempt furnishers from investigating disputes based on legal questions as opposed to factual inaccuracies. MORE >
On April 25, 2022, the CFPB announced that it intends to use its “dormant authority” to examine nonbank financial companies that pose risks to consumers and then publicly release the results. Specifically, the CFPB plans to invoke its authority under the Dodd-Frank Wall Street Reform to “conduct examinations of financial companies posing risks to consumers and stop harm before it spreads.” The CFPB does not define “risky conduct” but explains that it may involve unfair, deceptive, or abusive acts or practices, or other acts or practices that potentially violate federal consumer financial law. In its announcement, the CFPB advises that it plans to identify “risky conduct” by examining complaints collected by the CFPB, judicial opinions, administrative decisions, whistleblower complaints, state partners, federal partners, and news reports. MORE >
Disclaimer: This newsletter does not create an attorney-client relationship between Moss & Barnett, A Professional Association, or attorney Aylix K. Jensen and any reader. Please remember that we can only provide general information and every case is unique. Always check with your individual attorney for any specific legal concerns.
The Safe Harbor Debt Collection Law Update by Aylix Jensen
Minneapolis, MN
Phone: (612) 877-5000
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Minneapolis, MN 55402
St. Cloud, MN
Phone: (320) 654-4100
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