ULC

Committees

Transfer and Recording of Consumer Debt

Description

Consumer debt, particularly past-due consumer credit-card debt, is frequently sold by the original creditor to other entities that specialize in debt collection. The Office of the Comptroller of the Currency in 2013 issued a “Best Practices” document that expressed concern about safety, soundness and consumer protection issues involved with such sales of consumer debt, and some have proposed the creation of a national debt registry, or multiple registries, that would track title to consumer debt that has been transferred. This study committee will study the need for and feasibility of state legislation on the transfer and recording of consumer debt and will also investigate the viability of a registration system to record transfers of consumer debt.

Committee Members

Thomas J. Buiteweg Chair
Marion W. Benfield Member
John Michael Brassey Member
Raul E. Burciaga Member
K. King Burnett Member
William H. Clark Member
Michael A. Ferry Member
Lynn Foster Member
Teresa R. Manning Member
Fred H. Miller Member
Neal Ossen Member
H. Kathleen Patchel Member
Keith A. Rowley Member
Byron D. Sher Member
Edwin E. Smith Member
William W. Barrett Division C Chair Member
Katherine Porter Reporter
John R. Chiles ABA Section Advisor
Amelia H. Boss ALI Advisor
Neil B. Cohen ALI Advisor
Teresa Wilton Harmon ALI Advisor
Steven O. Weise ALI Advisor
Liza Karsai Executive Director
Carl H. Lisman Chair, Scope & Program Committee
Kaitlin A. Dohse Staff Liaison