SUMMARY: The Consumer Financial Protection Bureau (CFPB or Bureau) amends Regulation Z, which implements the Truth in Lending Act (TILA), to address late fees charged by card issuers that together with their affiliates have one million or more open credit card accounts (referred to as "Larger Card Issuers" herein). This final rule adopts a late fee safe harbor threshold of $8 for those issuers and provides that the annual adjustments to reflect changes in the Consumer Price Index (CPI) do not apply to this $8 amount.
CFPB
Prepared Remarks of Seth Frotman, General Counsel and Senior Advisor to the Director Consumer Financial Protection Bureau, at the National Consumer Law Center/National Association of Consumer Advocates Spring Training
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This letter was created by the CFPB as an aid to debt collectors. From the CFPB website:
"Communicating with debt collectors
In addition to using the validation information to follow up with the debt collector, you can use these sample letters to communicate with them:
This letter was created by the CFPB as an aid to debt collectors. From the CFPB website:
"Communicating with debt collectors
In addition to using the validation information to follow up with the debt collector, you can use these sample letters to communicate with them:
This letter was created by the CFPB as an aid to debt collectors. From the CFPB website:
"Communicating with debt collectors
In addition to using the validation information to follow up with the debt collector, you can use these sample letters to communicate with them:
This letter was created by the CFPB as an aid to debt collectors. From the CFPB website:
"Communicating with debt collectors
In addition to using the validation information to follow up with the debt collector, you can use these sample letters to communicate with them:
This letter was created by the CFPB as an aid to debt collectors. From the CFPB website:
"Communicating with debt collectors
In addition to using the validation information to follow up with the debt collector, you can use these sample letters to communicate with them: