CFPB issues guidance on Debt Collection Rule validation information requirements

November 02, 2021

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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