Points to remember from the changes made to the rules for fair recovery of CFPB debts

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By James Sandy (October 13, 2021, 12:06 p.m. EDT) – Years after creation, the final Consumer Financial Protection Bureau rules amending the Fair Debt Collection Practices Act will come into effect on November 30. Sanctions for Unfair and Deceptive Acts and Practices, Are You Ready to Ensure Your Business Complies with the New FDCPA Requirements?

Who the changes apply to

The CFPB considered changing the definition of a debt collector under the FDCPA – including changing the definition to include an entity seeking to collect its own debt – but ultimately decided to stick to the statutory text. and the legislative history of the FDCPA …

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