Numerous financial trade associations weighed in on the Consumer Financial Protection Bureau’s (CFPB) proposed rule placing limitations on the frequency with which covered entities could contact consumers in an effort to collect debts.
The trade groups asked for clarity regarding the rule’s scope of coverage and its cap on debt collector communications, among other recommendations. More than 200 consumer advocacy groups panned the rule as being too friendly to debt collectors.
Find out more about arguments for altering the rule’s various provisions.