CFPB Debt Collection Rule to Take Effect November 30, 2021

Supplementary information outlines the bureau’s plan to issue additional disclosure-focused amendments to Regulation F in December 2020.

11/29/2020 9:30 AM

CFPBNewsAdvocacy
CFPB Debt Collection Rule to Take Effect November 30, 2021

The Consumer Financial Protection Bureau’s final rule amending Regulation F and implementing the Fair Debt Collection Practices Act will take effect on Nov. 30, 2021.

The rule appeared in the Federal Register on Saturday with a Nov. 30 publication date indicated in the document details. As published, the entry in the Federal Register includes a summary of the final rule as well as information about coverage and organization of the final rule and the scope of the final rule, including the bureau’s reservation of sections in Regulation F for a disclosure-focused final rule planned for a December 2020 release.

The disclosure-focused final rule that’s expected to be released in the coming weeks will “clarify the information that a debt collector must provide to a consumer at the outset of debt collection and to provide a model notice containing the information required by FDCPA section 809(a),” according to the document published in the Federal Register. In addition, “the disclosure-focused final rule [will address] consumer protection concerns related to requirements prior to furnishing consumer reporting information and the collection of debt that is beyond the statute of limitations (i.e., time-barred debt).”

Last week, ACA International announced a comprehensive lineup of 10 complimentary members-only ACA Huddle webinars that will begin within one to two business days after the CFPB’s released of its disclosure-focused rule. Members can read more about the planned part two webinars here.

Members can access session recordings and presentations from part one of the ACA CFPB Rule Series here.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

CFPB Debt Collection Rule to Take Effect November 30, 2021

The Consumer Financial Protection Bureau’s final rule amending Regulation F and implementing the Fair Debt Collection Practices Act will take effect on Nov. 30, 2021.

The rule appeared in the Federal Register on Saturday with a Nov. 30 publication date indicated in the document details. As published, the entry in the Federal Register includes a summary of the final rule as well as information about coverage and organization of the final rule and the scope of the final rule, including the bureau’s reservation of sections in Regulation F for a disclosure-focused final rule planned for a December 2020 release.

The disclosure-focused final rule that’s expected to be released in the coming weeks will “clarify the information that a debt collector must provide to a consumer at the outset of debt collection and to provide a model notice containing the information required by FDCPA section 809(a),” according to the document published in the Federal Register. In addition, “the disclosure-focused final rule [will address] consumer protection concerns related to requirements prior to furnishing consumer reporting information and the collection of debt that is beyond the statute of limitations (i.e., time-barred debt).”

Last week, ACA International announced a comprehensive lineup of 10 complimentary members-only ACA Huddle webinars that will begin within one to two business days after the CFPB’s released of its disclosure-focused rule. Members can read more about the planned part two webinars here.

Members can access session recordings and presentations from part one of the ACA CFPB Rule Series here.


Follow ACA International on Twitter @ACAIntl and @acacollector, Facebook and request to join our LinkedIn group for news and event updates. ACA International members are welcome to submit news items for possible publication to comm@acainternational.org. Visit our publications page for news submission guidelines and subscriptions to ACA Daily, Collector magazine and Pulse.

Advertising is available for companies wishing to promote their products or services. Be sure to visit the ACA Events Calendar on the Education and Training page to view our listing of upcoming CORE Curriculum and Hot Topic seminars featuring critical educational opportunities for your company.


Subscribe to ACA Daily NEWSROOM

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