Removing Barriers Blog

CFPB Releases Small Entity Compliance Guide for Debt Collection Rule
Posted January 15, 2021 by CUNA Advocacy

The Bureau has issued a small entity compliance guide summarizing the October 2020 Debt Collection Rule. The guide is available here

The small entity compliance guide includes a detailed summary of the Rule’s substantive prohibitions and requirements, including those that generally restate the Fair Debt Collection Practices Act’s (FDCPA) prohibitions and requirements. Section 2 of the guide provides a summary that highlights the Rule’s key interpretations and clarifications of the FDCPA.

The Rule is effective November 30, 2021.