You can access the proposed debt collection rule here: https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-NPRM.pdf
You can access the Fast Facts summary of the proposed rule here: https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-fast-facts.pdf
You can access the flowchart on the proposed rule’s electronic disclosure options here: https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-electronic-disclosure-flowchart.pdf
The agency is proposing these changes and opening the proposal for notice and comment from the public, including industry stake holders. The current deadline to provide comments is August 19, 2019.
The CFPB is hosting a Debt Collection Town Hall in Philadelphia, beginning at noon tomorrow, May 8th. Information on the live stream of that event is available here.
We will be providing a more thorough analysis of the new rule shortly.
Troutman Sanders will also be hosting a webinar to discuss the impact of the new rule on Wednesday, May 15th from 3:00 – 4:00 pm ET.
You can register for the webinar here.