Substantially similar. Two of the most scariest words in Regulation F. Collectors can use the Model Validation Notice as put forth by the Consumer Financial Protection Bureau or one that is “substantially similar” to enjoy the safe harbor under the debt collection rule. But what makes a Model Validation Notice substantially similar? Regulation F has been in effect for a year now. How close are we to knowing the answer to that question?
In this webinar, sponsored by TCN, a panel of experts will share their insights into what they think substantially similar means and how close — or far — we are from rulings or guidance to help collectors figure it out once and for all.