The Consumer Financial Protection Bureau released several guidance documents to help providers prepare for two debt collection final rules taking effect Nov. 30.
November 01, 2021 / By ICBA
The Consumer Financial Protection Bureau released several guidance documents to help providers prepare for two debt collection final rules taking effect Nov. 30. The documents focus on the bureau’s model validation notice, including a Spanish translation.
ICBA Position: As advocated by ICBA, the CFPB structured the rules to apply only to third-party debt collectors, not community banks and other first-party debt collectors.
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