CFPB Extends Comment Period for Proposed Rule on Debt Collection Practices

On May 15, 2020, the CFPB issued a supplemental notice of proposed rulemaking and announced that it is extending the comment period for its proposed rule on debt collection practices.  On March 3, 2020, the CFPB previously published a supplemental notice of proposed rulemaking in the Federal Register, requesting comment on the Bureau’s proposed amendments to Regulation F which implements the Fair Debt Collection Practices Act. The proposed amendments would require debt collectors to make certain disclosures when collecting time-barred debts. 

The 60-day public comment period was previously set to close on May 4, 2020.  Comments must now be received on or before August 4, 2020.