Wed, 4 June 2014
The CFPB recently began a more aggressive approach to the debt industry, bypassing the larger market participant examination process and issuing Civil Investigative Demands (CIDs) to a number of debt collectors directed at specific complaints and alleged practices. In a special episode of the Debt Collection Drill, John Rossman hosts special guest, attorney Mark Peterson. Mr. Peterson is a shareholder with Moss & Barnett, P.A. and has experience in assisting members of the debt industry in responding to CIDs. During the podcast, Mr. Rossman and Mr. Peterson explain the CID process, what a company should expect when a CID is received-including the cost of defending and the difficulties with a CFPB hearing.