Get your ducks in a row – the final debt collection rule goes into effect November 30, 2021.

Coming as a surprise to everyone, the Consumer Financial Protection Bureau decided not to extend the implementation date of the debt collection rules.

RMAI recorded several webinars on Regulation F, and encourages members to utilize these resources to come into compliance.

Additionally, RMAI offers the recorded CFPB Rule & Keynote Bundle from the 2021 Annual Conference. The bundle includes the following six (6) education sessions and the keynote address:

  • Setting the Record Straight: New Terms, New Definitions, Safe Harbors, and the Risks of Noncompliance
  • Consumer Communications: New requirements for Outbound, Inbound, Web-based, and Social Media Formats
  • Digital Communications and the New Rules for Debt Collection: Updated Strategies for E-mails, Texts, URLs and Beyond
  • Documentation of Delivery: Send, Receive, Provide and Validate Communications and Disclosures
  • Requirements for Required Disclosures: Direct and Indirect E-sign Consent, URL opt-out rules, Formats for actual notice
  • Pulling it all together: Session Highlights and Final Q and A
  • Keynote Address – Tom Pahl (former Deputy Director with the CFPB)

This Member Alert is intended for members of the Receivables Management Association International, is for informational purposes only, and is in no way intended to provide legal advice. Members are encouraged to consult with an attorney of their choice for legal advice concerning this matter.