Tag Archives: Regulation F

The model validation notice represents a complete top-down overhaul of the validation notice that debt collectors have been sending since the Fair Debt Collection Practices Act was enacted back when disco was king. Among two of the major changes to the information that collectors will now be required to include …

For anyone who has read Regulation F (and we know who you are), Section 1006.34 may have taken some time to get through. For those of you who haven’t read it, Section 34 as we’ll call it deals with one letter — the validation notice, and only the validation notice. …

As discussed last week, there are four pieces of information that make up what the Consumer Financial Protection Bureau refers to as “validation information” in Regulation F. They are: debt collection communication disclosures, information about the debt, information about consumer protections, and information about how the consumer can respond to …

Once Regulation F — the Consumer Financial Protection Bureau’s Debt Collection Rule — goes into effect, collectors are going to have to make substantial changes to the validation notices they are sending out to consumers. Whether collectors choose to use the rule’s Model Validation Notice or continue using their own …

The Consumer Financial Protection Bureau has apparently dropped a plan that was initiated under its former leadership to create a rule that defines “abusive” conduct under the unfair, deceptive, and abusive acts or practices, known as UDAAP, according to its Spring 2021 rulemaking agenda, which was published on Friday. Also …

A petition has been submitted to the Consumer Financial Protection Bureau — allegedly signed by 177,000 people — urging the regulator to rescind Regulation F, its debt collection rule. The petition was submitted by Consumer Reports, the advocacy organization, as part of the comment process to the CFPB’s proposal to …

If there is one particular component of Regulation F — the Debt Collection Rule from the Consumer Financial Protection Bureau — that has tripped up and confused more people in the months since the rule was released, it is the itemization date that will need to be included in the …

Of all the areas of Regulation F that collectors are grappling with, perhaps the most challenging is the new validation notice, which collectors will be able to use to communicate specific information to consumers about their unpaid debts. The model validation notice offers some important benefits to collectors, but comes …

Mortgage bankers don’t think a 60-day delay of the effective date of Regulation F is long enough for mortgage servicers to be ready to comply with the provisions of the Consumer Financial Protection Bureau’s debt collection rule, and are calling on the regulator to delay the rule’s implementation for six …

A number of industry participants, as well as a group of consumer advocacy organizations have filed their comments on the Consumer Financial Protection Bureau’s proposal to delay the effective date of Regulation F by 60 days, pushing it out to January 29, 2022. And while the advocacy groups used their …