The Consumer Financial Protection Bureau (CFPB) has extended the comment period for its proposal on debt collection to Sept. 18, past the original deadline of Aug. 19. According to the CFPB, this will allow “interested persons more time to consider and submit their comments.”
The CFPB issued proposed amendments to Regulation F (which implements the Fair Debt Collection Practices Act) to prescribe federal rules governing the activities of “debt collectors” as defined in the statute.
CUNA has engaged recently with the CFPB on debt collection at June’s Credit Union Advisory Council meetings in which it was discussed. CUNA also attended a bureau-hosted town hall meeting on debt collection and met with CFPB staff, along with the Minnesota Credit Union Network, both in May.