Removing Barriers Blog

Letter sent prior to November HFSC markup
Posted November 14, 2019 by CUNA Advocacy

Yesterday, CUNA wrote to Chairwoman Waters and Ranking Member McHenry to express views prior to the Committee' markup on four measures, including three related to the Fair Debt Collection Practices Act (FDCPA).

The letter highlights credit you concerns for the following bills:

H.R. 2445 – Self-Employed Mortgage Access Act
This would expand homeownership opportunities for self-employed consumers by allowing financial institutions to rely on standards other than Appendix Q to verify a consumer’s income. 

Legislation Related to the Fair Debt Collection Practices Act

H.R. 4664 - Monitoring and Curbing Abusive Debt Collection Practices Act
H.R. 4664 includes a provision that would prohibit the CFPB from finalizing a rule that permits collectors to send unlimited emails and text messages. 

H.R. 5013 - Small Business Fair Debt Collection Protection Act
This would expand the FDCPA to cover “small businesses,” as defined in a future rulemaking from the CFPB. We are concerned that this legislation would expand the scope of the FDCPA without making accommodations for the differences between small business and consumer lending and collections. 

H.R. 5001 - Non-Judicial Foreclosure Debt Collection Clarification Act
This bill would expand the FDCPA to cover non-judicial mortgage foreclosures.