On December 5, 2017, Democratic House Representative from Texas, Vincente Gonzalez introduced H.R. 4550 which proposes to amend the Fair Debt Collection Practices Act as well as the Consumer Financial Protection Act of 2010. Currently, the text of the proposed legislation is not published however the summary provides that the intention of the Bill is to exclude law firms and licensed attorneys who are engaged in activities related to legal proceedings from the definition of a debt collector. Additionally, it provides for the prevention of the Bureau of Consumer Financial Protection to exercise supervisory or enforcement authority with respect to attorneys when undertaking certain actions related to legal proceedings. I will provide updated information when the Bill is published for review.
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