Fast Facts for Supplemental Debt Collection Proposal on Time-Barred Debt (Mar. 2020)
On May 7, 2019, the Bureau issued a proposal (the May 2019 Proposed Rule) to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The May 2019 Proposed Rule was published in the Federal Register on May 21, 2019 and would prescribe federal rules governing the activities of debt collectors, as that term is defined in the FDCPA. The supplemental proposal on time-barred debt supplements the May 2019 Proposed Rule by adding a proposed §1006.26(c), as well as a related provision of §1006.34(c), Model Forms, and Official Interpretations.