Law Firms That Do Debt Collection Also Subject to New Rules

Lawyerist.com has a new post up about the CFPB’s new rules on debt collection and their applicability to attorneys:
“Today the Consumer Financial Protection Bureau issued its final rule on oversight of the debt collection industry [PDF], which includes debt collection lawyers. The rule takes effect on January 2, 2013, and according to the CFPB it provides authority for the oversight of “any firm that has more than $10 million in annual receipts from consumer debt collection activities.”
click here to read the full blog post