CFPB

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.

The Bureau of Consumer Financial Protection (Bureau) proposes to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA) and currently contains the procedures for State application for exemption from the provisions of the FDCPA. On May 21, 2019, the Bureau published in the Federal Register a proposed rule (May 2019 Proposed Rule) that would prescribe Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA.

On October 30, 2020, the Consumer Financial Protection Bureau (Bureau) issued a final rule (Debt Collection Rule or Rule) implementing the Fair Debt Collection Practices Act (FDCPA). 1 The Debt Collection Rule is available at https://www.consumerfinance.gov/rules-policy/final- rules/debt-collection-practices-regulation-f/. The Debt Collection Rule will become effective one year after publication in the Federal Register.

On December 18, 2020, the Consumer Financial Protection Bureau (Bureau) issued a final rule (December 2020 Rule) amending Regulation F to provide additional requirements regarding validation information and disclosures provided at the outset of debt collection communications, prohibit suits and threats of suits regarding time-barred debt, and identify actions that must be taken before a debt collector may report information about a debt to consumer reporting agencies (CRAs).

The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA) and currently contains the procedures for State application for exemption from the provisions of the FDCPA. The Bureau is finalizing Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA.

Debt buyers, debt collectors, and others who furnish information to credit reporting agencies have a variety of obligations under the Fair Credit Reporting Act (FCRA) 1 and Regulation V2. The Consumer Financial Protection Bureau (CFPB) issues this bulletin3 to highlight one of those obligations – the obligation of furnishers to investigate disputed information in a consumer report.