A CFPB proposal to delay the effective date of two final rules amending Regulation F, which implements the Fair Debt Collection Practices Act, was published in the Federal Register. The comment deadline for the proposed delay is May 19, 2021.
In October 2020, the CFPB adopted a final rule in connection with the use of communications related to debt collection. The final rule clarified prohibitions on misleading representations, harassment and abuse, and unfair debt collection practices. In December 2020, the CFPB adopted a related final rule clarifying disclosure obligations for debt collectors at the beginning of collection communications, as well as prohibited predatory activities.
Both rulemakings are currently due to go into effect on November 30, 2021. The CFPB stated the proposed sixty-day delay would allow stakeholders affected by the pandemic additional time to review and implement the new rules. If adopted, the effective date for the rulemakings would be changed to January 29, 2022.
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