The CFPB proposes a new date of entry into force for the regulation on debt collection – Finance and Banking


United States: The CFPB proposes a new date of entry into force of the regulation on the recovery of debts

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The CFPB has proposed to postpone, from November 30, 2021 to January 29, 2022, the date of entry into force of two final regulations amending Regulation F, which implements the Fair Debt Collection Practices Act. Both rules govern the activities of debt collectors.

In October 2020, the CFPB adopted a final rule on the use of communications related to debt collection. The regulations clarified the prohibitions on misleading representations, harassment and abuse, and unfair debt collection practices. In December 2020, the CFPB adopted a final rule clarifying disclosure obligations for debt collectors at the start of collection communications, as well as prohibited predatory activities.

Both regulations were due to come into effect on November 30, 2021. The CFPB said the proposed deadline would give stakeholders affected by the pandemic environment more time to review and implement the new rules.

Primary sources

  1. Rule proposed by the CFPB: Debt collection practices (Regulation F); Late date of entry into force
  2. CFPB press release: CFPB proposes to postpone the date of entry into force of recent debt collection rules

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