Acronyms Fight: NACSO vs. CFPB and FTC

The National Association of Credit Services Organizations (NACSO) is still in the battle with the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC).

You can see the history of the case here.

The issue appears to be unhappiness over the fee limitations that the Telemarketing Sales Rule (TSR) creates. NASCO would like to give members of the credit repair industry some clarity and latitude to charge fees for services.

In the court filing today, the CFPB and FTC are asking for the case to be dismissed based on the amended complaint filed by NASCO Nonprofit Business League.

The CFPB and FTC say that one reason the suit by NASCO should be tossed is because, “NACSO’s Amended Complaint was filed a quarter century after the TSR was promulgated – and nineteen years after the statute of limitations on any facial challenge to that rule had expired.”

You can read the request to dismiss here and I’ll keep an eye open for the NASCO response to help update the situation.

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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