The Consumer Financial Protection Bureau has issued its final rule implementing the Fair Debt Collection Practices Act by making revisions to Regulation F, 12 CFR part 1006.
Read about the first part of the rule, released on October 30, 2020.
Read about the second part of the rule, released on December 18, 2020.
Right now, many creditors may be considering making accommodations to consumers affected by COVID-19 by offering different ways to help ease the burden of existing debt obligations. In doing so, creditors should take care to follow the special credit reporting rules for such accommodations set forth in the recently passed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Continue reading “CARES Act Amends the Fair Credit Reporting Act for Accommodations Extended to Consumers During COVID-19”