This identifies the ways a debt collector may provide three disclosures electronically and meet the general requirement in Regulation F § 1006.42 to provide disclosures in a manner that is reasonably expected to provide actual notice and in a form that the consumer may keep and access later.
The CFPB has issued a proposal to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The proposal seeks public comment on Federal rules governing the activities of debt collectors covered by the FDCPA. Among other things, the proposal would incorporate many existing provisions of the FDCPA into Regulation F with only minor wording and organizational changes. This document generally focuses on the portions of the proposal that would substantially clarify or interpret FDCPA requirements.
This is the table of contents of the May 2019 version of the CFPB’s proposed Regulation F.
Building on CFPB qualitative work, CFPB engaged ICF in September 2019 to quantitatively measure how variations of the language, content, and display in the Regulation F validation notices affect consumer understanding and stated behavior. The survey was conducted with 8,011 total respondents, with 5,312 having experienced debt collections. The study was a web survey conducted with respondents who were panelists from Ipsos KnowledgePanel.
This report presents the results of a large-scale online survey experiment designed to test several versions of Regulation F proposed disclosures to support the understanding of time-barred debt and revival. These data were collected by ICF International on behalf of the CFPB between May 2019 and September 2019. ICF International produced a detailed report, available at this link, on its methodology, including sampling, response rates, and question development.
On May 7, 2019, the CFPB 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.
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. This proposal supplements the May 2019 Proposed Rule by proposing to require debt collectors to make certain disclosures when collecting time-barred debts.
In 2020, the Bureau of Consumer Financial Protection (Bureau) finalized two rules titled Debt Collection Practices (Regulation F). The rules revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). Both final rules have an effective date of November 30, 2021. The Bureau is proposing to extend that effective date by 60 days, until January 29, 2022.
In 2020, the CFPB finalized two rules (together, the Debt Collection Final Rules) revising Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). As finalized, the Debt Collection Final Rules had an effective date of November 30, 2021. On April 7, 2021, the Bureau issued a proposal to delay that effective date by sixty days, until January 29, 2022. The Bureau is withdrawing that proposal for the reasons provided in this document. The Debt Collection Final Rules will take effect on November 30, 2021.
This is a link to a GitHub webpage that has InDesign, PDF, and Word versions of the Model Validation Notice in both English and Spanish included in Regulation F.