THE CFPB RELEASES PART TWO OF THE FEDERAL DEBT COLLECTION RULE

On December 18th, the Consumer Financial Protection Bureau (“CFPB”) released part two of its federal debt collection rule (known as “Regulation F,” to be codified at 12 C.F.R. Part 1006) under the federal Fair Debt Collection Practices Act (“FDCPA”). Part two focuses on debt validation information, time-barred debts, certain credit reporting in collections and deceased consumers. Part two of the final rule becomes effective on the same date as part one of the final rule — November 30, 2021…Read More