News & Analysis as of

Debt Collectors Final Rules Financial Services Industry

Hudson Cook, LLP

[Webinar] Preparing for the New CFPB Enforcement Order Registry - June 27th, 2:00 pm ET

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Nonbank financial services companies with prior enforcement orders are preparing for the Consumer Financial Protection Bureau’s (CFPB) new Registry, which takes effect September 16. Nonbank consumer lenders, loan servicers,...more

Troutman Pepper

Banks Should Continue to Prep for CFPB Data Rule Rollout

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Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank Act. ...more

Troutman Pepper

CFPB Publishes Compliance Aids in Anticipation of New Debt Collection Final Rules Becoming Effective

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Last month, industry saw the Consumer Financial Protection Bureau (CFPB) issue a number of compliance aids in anticipation of two CFPB Debt Collection Final Rules becoming effective on November 30. On October 1, the CFPB...more

Burr & Forman

Communicating with Consumers after the CFPB's Debt Collection Final Rules Take Effect

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I. Introduction - On November 30, 2021, the Bureau of Consumer Financial Protection's ("CFPB") October and December 2020 Final Rules take effect. See 86 FR 48918-01. Among other things, the October and December 2020 Final...more

Goodwin

CFPB Releases New Compliance Aid

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In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

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In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Hudson Cook, LLP

CFPB Bites of the Month - November Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...more

Ballard Spahr LLP

The CFPB’s final collections rule: gauging the potential impact of the election results

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Continuing our series of blog posts breaking down the CFPB’s final debt collection rule, we now discuss whether the November general election results are likely to have any impact on the final collection rule....more

Manatt, Phelps & Phillips, LLP

CFPB Releases Final Debt Collection Rule, Part 1

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) released the first part of its long-awaited final Debt Collection Rule, which substantially updates and modernizes Regulation F, the implementing...more

Ballard Spahr LLP

The CFPB’s final collections rule: meaningful attorney involvement safe harbor removed; debt sale restrictions modified

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Our blog post series has detailed a number of ways in which the CFPB’s final debt collection rule departs from last year’s NPRM. There are two additional topics approached very differently in the final rule: (1) the proposed...more

Ballard Spahr LLP

The CFPB’s final collections rule: mortgage servicing provisions and impacts

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The CFPB’s debt collection final rule will significantly impact the operations of mortgage servicers. Not surprisingly, the CFPB declined to generally exempt mortgage servicers from the definition of a “debt collector” under...more

Goodwin

Consumer Financial Protection Bureau Issues New Final Rule Modernizing the Fair Debt Collection Practices Act

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On October 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a new final rule implementing the Fair Debt Collection Practices Act (FDCPA). According the CFPB’s press release, the new final rule is designed “to...more

Ballard Spahr LLP

The CFPB’s final collections rule: impact on credit reporting

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This latest installment of our blog posts about the CFPB debt collection rule examines how the final rule will impact credit reporting....more

Ballard Spahr LLP

The CFPB’s final collections rule: inconvenient time and place restrictions

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In the next in our series of blog posts breaking down the CFPB’s final debt collection rule, we now turn to a discussion of how to understand and comply with the final rule’s inconvenient time and place provisions. For the...more

Blank Rome LLP

CFPB Issues Final Rule Clarifying Regulation of Fair Debt Collection Practices

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On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) published a long-awaited final rule revising Regulation F, which implements the Fair Debt Collection Practices Act (“FDCPA”) of 1977. Prior to the...more

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