CFPB issues guidance on Debt Collection Rule validation information requirements

November 02, 2021

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The Bureau has released several guidance documents to assist the industry with providing the validation information in preparation for the Debt Collection Rule’s upcoming effective date, including a “complete and accurate” Spanish translation of the model validation notice, a new section to the Debt Collection Rule Frequently Asked Questions (FAQs), and a document entitled, “Debt Collection Rule: Disclosing the Model Validation Notice Itemization Table.”.

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