The CFPB Advisory Opinions Program
Webinar Replay
One of the interesting components of the Consumer Financial Protection Bureau’s (CFPB’s) clarifications on debt collection rules was the inclusion of advisory opinions. This program helps parties clarify ambiguities in regulations by submitting requests for advisory opinions on an issue. The CFPB provides written advice to aid organizations in better understanding their legal obligations through advisory opinions. Implementing this new method will help call centers adapt and comply with debt collection rules.
Watch the webinar replay to learn about:
- How advisory opinions are different from a rule
- What areas of the CFPB rules will likely be submitted to advisory opinions
- Potential downsides to submitting too many requests for advisory