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CFPB Moves to Reduce Junk Fees Charged by Debt Collectors

Today, the CFPB published an advisory opinion noting its interpretation of Section 808(1) of the Fair Debt Collection Practices Act (the "FDCPA") as it relates to pay-to-pay fees charged by debt collectors. In short, CFPB opined that the FDCPA prohibits debt collectors from collecting pay-to-pay or “convenience” fees when those fees are not expressly authorized by the agreement creating the debt or expressly authorized by law. This opinion further underscores the CFPB's focus on add-on fees and the real-life impact that these fees have on American consumers.

A link to the press release highlighting the advisory opinion is provided below.

CFPB Moves to Reduce Junk Fees Charged by Debt Collectors

Topics: CFPB
  • Denise M. Barnes
    Partner

    Denise Barnes is a former U.S. Department of Justice (“DOJ”) Trial Attorney who focuses her practice on compliance, white collar and regulatory investigations, and complex commercial litigation.  She represents clients in ...

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