CFPB Proposes New Effective Date For Debt Collection Regulations

The CFPB proposed delaying, from November 30, 2021 to January 29, 2022, the effective date for two final rulemakings amending Regulation F, which implements the Fair Debt Collection Practices Act. Both rulemakings govern the activities of debt collectors.

In October 2020, the CFPB adopted a final rule in connection with the use of communications related to debt collection. The rulemaking clarified 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 beginning of collection communications, as well as prohibited predatory activities.