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.
In this research project, the CFPB tested whether the Regulation F model validation notice effectively disclosed debt information and what actions consumers can take in response to the notice. Our findings demonstrate that the model validation notice is clear, easy to understand, and effectively provides consumers with actionable information.
Table of Contents for Debt Collection (Regulation F) NPRM
May 7, 2019 proposal to amend Regulation F to prescribe Federal rules governing the activities of debt collectors covered by the FDCPA