United States:
CFPB Proposes Rule Changes On Debt Collection Practices
29 May 2019
Cadwalader, Wickersham & Taft LLP
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The CFPB proposed amending
CFPB Regulation F ("Fair Debt Collection Practices
Act") to clarify certain restrictions and address predatory
debt collection practices.
The proposal would, among other things:
- limit call attempts to seven times a week;
- require a debt collector to wait one week after speaking with a
consumer before calling again;
- force debt collectors to send disclosures to consumers with
debt information, such as itemizations of debt, and guidance on how
consumers can respond to collection communication;
- allow emails, text messages and other new communication
technologies to be used in collection communications; and
- prohibit a debt collector from suing or threatening to sue a
consumer if the statute of limitations has expired.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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