On October 30, 2020 the CFPB published a final rule amending Regulation F which implements the Fair Debt Collection Practices Act. The rule applies to third-party debt collection since “collector” is defined in such a way to not include credit unions that are collecting on their own debts, at least at the federal level. Consistent with NAFCU’s requests, the CFPB has decided not to expand the rule to apply to first-party debt collectors.
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