ABSTRACT

CFPB Finalizes Two New Debt Collection Regulations [February 3, 2021]   [open pdf - 631KB]

From the Document: "The Consumer Financial Protection Bureau (CFPB) recently finalized two new regulations to implement the Fair Debt Collection Practices Act (FDCPA; 15 U.S.C. §§1692-1692f), which seeks to 'eliminate abusive debt collection practices by debt collectors.' On November 30, 2020, the CFPB issued a final rule on how debt collectors may communicate with consumers. On January 19, 2020, the CFPB published a second rule clarifying what information debt collectors must disclose to consumers. This Insight provides an overview of the debt collection market and its regulation and analyzes major parts of the CFPB's two new rules."

Report Number:
CRS Insight, IN11590
Author:
Publisher:
Date:
2021-02-03
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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