CFPB Extends Comment Period for Debt Collection Proposal

The Consumer Financial Protection Bureau announced Friday it extended the comment period by 30 days on its Notice of Proposed Rulemaking implementing the Fair Debt Collection Practices Act.

The comment period now ends September 18.

The proposed rule can be found at: https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-NPRM.pdf. 

The proposal would provide consumers with protections against harassment by debt collectors and straightforward options to address or dispute debts. Among other provisions, the proposal would set clear, bright-line limits on the number of calls debt collectors may place to reach consumers on a weekly basis; apply prohibitions on harassment or abuse, false or misleading representations and unfair practices in debt collection; and clarify requirements for certain consumer-facing debt collection disclosures.