The Consumer Financial Protection Bureau’s (CFPB) proposed debt collection rule includes various safe harbors for individual debt collectors and institutions, many of which were discussed during a recent meeting of the bureau’s Consumer Advisory Board.
A portion of the discussion focused on safe harbors included in the proposal, as well as suggestions for others that may be appropriate regarding provisions applying to debt validation and communication.
Find out more about what safe harbors in the proposal and what additional ones have been suggested.