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The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on fees charged by debt collectors, known as “pay-to-pay” or “convenience fees.”
CUNA filed an amicus brief related to this issue in February in the Ninth Circuit Court of Appeals, stating the CFPB’s strict interpretation of “permitted by law” in the Fair Debt Collection practices is improper. CUNA believes the CFPB’s interpretation will deprive consumers of important, cost-saving choices.
The opinion is effective immediately upon publication in the Federal Register, and: