Skip to content

Menu

LexBlog, Inc. logo
NetworkSub-MenuBrowse by SubjectBrowse by PublisherJoin the NetworkGet StartedSubscribeSupportContact
Search
Close

CFPB Plans to Publish Final Debt Collection Rules in October

By Lee Gilley, Jonathan R. Kolodziej & J. Riley Key on July 6, 2020
Email this postTweet this postLike this postShare this post on LinkedIn

CFPB Plans to Publish Final Debt Collection Rules in OctoberOn Thursday, July 2, the Consumer Financial Protection Bureau (CFPB) announced that it plans to publish final debt collection rules in October 2020. The final rules will be the first rules clarifying the nearly 40-year-old Fair Debt Collection Practices Act (FDCPA) and are expected to address a variety of topics including:

  • Communications with borrowers;
  • Guidance on what constitutes harassment or abuse, false or misleading representations, and unfair practices; and
  • Disclosures (including time-barred debt disclosures).

In the proposed rule that was published in May 2019, the CFPB proposed a one-year implementation before the debt collection rules would become effective. If they incorporate the same implementation period in the final rule so that it becomes effective one year after publication in the Federal Register, it likely could become effective as early as October or November 2021.

As we have previously discussed, the CFPB’s debt collection rulemaking process, which started in 2013, has evolved over time. However, we expect that the bureau, after its seven-year-long rulemaking process, will largely stick with the proposed debt collection rules that it published in May 2019 and the supplemental proposal regarding time-barred debt disclosures that it issued earlier this year. If you wish to obtain additional information about the debt collection rules, please take a look at our previous writings and stay tuned for additional posts in the lead up to the October 2020 release.

  • Debt-Collection Proposals: CFPB Releases Outline of Proposals for Debt Collectors
  • CFPB Takes Next Step Toward Issuing Debt Collection Rules
  • CFPB Director Cordray Emphasizes Major Changes Coming to the Debt Collection Marketplace
  • BCFP Revitalizes Efforts to Enact FDCPA Regulation
  • First Party Creditors Should Carefully Consider the Upcoming Debt Collection Rules
  • CFPB’s Upcoming Debt Collection Proposed Rule: What to Expect on Timing
  • Does the New Debt Collection Rule Apply to First-Party Creditors?
  • CFPB Extends Comment Period for Proposed Debt Collection Rule in Response to Consumer Advocate and Industry Requests
Photo of Lee Gilley Lee Gilley

Lee Gilley represents financial institutions, including banks, mortgage companies, debt collectors, small dollar lenders, and payment systems providers (credit cards, debit cards, prepaid cards, mobile payments, etc.) in litigation and regulatory matters related to compliance with the Card Act, ECOA, EFTA, FCRA, FDCPA…

Lee Gilley represents financial institutions, including banks, mortgage companies, debt collectors, small dollar lenders, and payment systems providers (credit cards, debit cards, prepaid cards, mobile payments, etc.) in litigation and regulatory matters related to compliance with the Card Act, ECOA, EFTA, FCRA, FDCPA, GLBA, HPA, RESPA, TILA, TCPA, CFPB regulations, and numerous other state laws and regulations. Lee is a member of Bradley’s Banking and Financial Services Practice Group, as well as the firm’s Payments and Small Dollar & Unsecured Lending industry teams.

Read more about Lee GilleyEmailLee's Linkedin Profile
Show more Show less
Photo of Jonathan R. Kolodziej Jonathan R. Kolodziej

Jonathan Kolodziej represents all types of consumer financial service providers in regulatory compliance, examination and enforcement matters. Through this work, he has assisted bank and non-bank mortgage servicers, mortgage originators, debt collectors, depository institutions, credit card issuers, small dollar lenders, reverse mortgage companies…

Jonathan Kolodziej represents all types of consumer financial service providers in regulatory compliance, examination and enforcement matters. Through this work, he has assisted bank and non-bank mortgage servicers, mortgage originators, debt collectors, depository institutions, credit card issuers, small dollar lenders, reverse mortgage companies, investment firms, and various industry trade associations.

Read more about Jonathan R. KolodziejEmailJonathan's Linkedin Profile
Show more Show less
Photo of J. Riley Key J. Riley Key

Riley Key works with financial services clients across the country facing regulatory and enforcement challenges related to obligations imposed by the CFPB, as well as various other federal and state laws. Specifically, Riley helps clients navigate compliance with the Mortgage Servicing Final Rules…

Riley Key works with financial services clients across the country facing regulatory and enforcement challenges related to obligations imposed by the CFPB, as well as various other federal and state laws. Specifically, Riley helps clients navigate compliance with the Mortgage Servicing Final Rules in Regulations X and Z and the TILA-RESPA Integrated Disclosure Rule, as well as a host of federal and state regulations, including TILA, RESPA, FDCPA, FCRA, and ECOA. View articles by Riley.

Read more about J. Riley KeyEmailJ. Riley's Linkedin Profile
Show more Show less
  • Posted in:
    Business and Commercial
  • Blog:
    Financial Services Perspectives
  • Organization:
    Bradley Arant Boult Cummings LLP
  • Article: View Original Source

Call us at 1-800-913-0988 or email sales@lexblog.com.

Facebook LinkedIn Twitter RSS
The Library at LexBlog
  • About LexBlog
  • The Field We Built
  • Library at LexBlog
  • Our Beliefs
  • Our Team
  • Contact LexBlog
  • Disclaimer
  • Editorial Policy
  • Terms of Service
  • Get Started
  • Publishing Solutions
  • Compass
  • Submit a Request
  • Support Center
  • System Status
Copyright © 2026, LexBlog, Inc. All Rights Reserved.
Law blog design & platform by LexBlog LexBlog Logo