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The Consumer Financial Protection Bureau (CFPB) under the Trump administration, has published a Notice of Proposed Rulemaking (NPRM) to amend the Fair Debt Collection Practices Act (FDCPA). The CFPB's proposal would change Regulation F to direct Federal rules overseeing the activities of debt collectors. The CFPB's new proposal would allow debt collectors to call consumers as frequently as seven times per week and be permitted to start sending emails and texts.
When debt collectors call consumers, the Federal Trade Commission (FTC) enforces FDCPA, which established rules for debt collection in 1977. Now the Trump administration wants to bring FDCPA into the 21st century, by allowing debt collectors to spam deadbeat consumers with email and text, and on a more frequent basis.
Proposal - Consumers - Collection - Notices - Email
Under the new proposal, consumers can opt out of receiving collection notices through email and text, the CFPB said in a Tuesday statement, adding that debt collectors would be expected to send disclosures with information for consumers on how to respond.
“The CFPB is taking the next step in the rulemaking process to ensure we have clear rules of the road where consumers know their rights and debt collectors know their limitations,” said CFPB...
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