Bob Belair Quoted in Collections & Credit Risk

AGG Partner Robert R. Belair, who leads AGG’s Privacy Practice Group, is quoted in a May 23, 2012, Collections & Credit Risk article titled “Debt Collectors Ramping Up For CFPB Audits” (subscription required to view). The Consumer Financial Protection Bureau is expected to clarify its guidelines for audits on July 21, 2012, but in the meantime, organizations like ACA International and DBA International have created training modules regarding best practices for complying with the Fair Debt Collections Practice Act. Mr. Belair, who also serves as regulatory council for DBA, finds it highly likely that the CFPB will base its examination on the FDCPA, which is why DBA is developing a certification program for members to help them learn industry best practices and benchmark their performance against regulatory guidelines and the expectations of auditors. He says, “It will take a year before the industry can say it has gotten its arms around the audits and the cost to their businesses.”