A fast response gain tracker (610) operates to adjust the magnitude of an echo cancellation signal developed from an echo canceler. The fast response gain tracker (610) provides an adjusted echo cancellation signal that is subtracted from an echo-corrupted received signal to provide an echo-canceled signal. In particular, the fast response gain tracker (610) correlates the echo-canceled signal with the echo cancellation signal from the echo canceler. If the gain of the gain tracker is correct the echo is canceled and there is zero correlation between the echo-canceled signal and the echo cancellation signal. However, if the echo level changes then a residual echo component appears in the echo-canceled signal, which now becomes correlated with the echo cancellation signal. In response, the magnitude of the gain tracker automatically adjusts the gain of the echo cancellation signal to match the change in echo level and thereby subsequently eliminates the residual echo.