Archive

SPECULATION ENDS – FDCPA AND UDAP CROSS PATHS

Massive revisions to the Fair Debt Collection Practices Act (FDCPA), and its implementing Regulation F, have been unfolding over the past few years. The final rule is effective on November 30, 2021, although the CFPB has proposed to extend the effective date to January 29, 2022. Many banks want to operate under the assumption that the FDCPA and Regulation F do not apply to their operations. We have steadfastly maintained that the law and regulation […]

CFPB INTERIM FINAL RULE REGARDING EVICTION MORATORIUM

Nearly 9 million households are behind on their rental payments. Tens of thousands of renters are being evicted every week, often without being told of their rights under the CDC moratorium. As the CDC has found, tenants who are evicted may end up homeless or in crowded or shared living settings, increasing their vulnerability to COVID-19 and the risk of the disease spreading throughout communities. Such evictions can have long-term health, financial, and social consequences […]

CFPB SMALL ENTITY COMPLIANCE GUIDE FOR DEBT COLLECTION

The CFPB has updated its Small Entity Compliance Guide for the Debt Collection Rule (Regulation F) to add the vastly expanded requirements of the December 2020 Final Rules. The CFPB recently issued a proposed revision to Regulation F to delay the effective date from November 30, 2021 to January 29, 2022.

Final Final Fair Debt Collections Practices Act is Published

On December 18, 2020, the Consumer Financial Protection Bureau (CFPB) released the second part of its final rule, Regulation F, which implements the Fair Debt Collection Practices Act. The first part of the final rule was published on October 30, 2020. The most recent release has three primary components dealing with validation notices, passive debt collection through negative reporting, and the collection of time-barred debt.  Most notably, the provisions dealing with time-barred debt depart significantly […]