The CFPB has released the Winter 2020 edition of its Supervisory Highlights. The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan servicing that were completed between April 2019 and August 2019.
Key findings include the following:
Debt collection. One or more debt collectors were found to have violated the FDCPA requirements to (1) disclose in communications subsequent to the initial written communication that the communication is from a debt collector, and (2) send a written validation notice within five days of the initial communication.