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Congress Proposes Law to Exempt Creditor Lawyers from Debt Collection RegulationsThe U.S. House of Representatives is considering legislation that would exempt creditors’ rights lawyers from the federal regulations meant for debt collectors. The Practice of Law Technical Clarification Act would amend both the Fair Debt Collection Practices Act and the Consumer Financial Protection Act of 2010 so that:

  • Law firms engaged in litigation are excluded from the definition of a debt collector; and
  • The Consumer Financial Protection Bureau does not have authority over attorneys who are not acting as debt collectors.

If the law passes, state courts would have primary authority to determine whether a creditor lawyer is guilty of misconduct in a case.

Lawyer Exemption

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Illinois Creditors Bar Association Chicago Bar Association Illinois State Bar Association
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