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The CFPB announced that its two final debt collection rules implementing the FDCPA will take effect as planned on November 30th. The CFPB had previously proposed extending the final rules' effective date by 60 days to allow for additional comments and time for implementation for those affected by COVID-19.
Based on industry feedback, the Bureau determined that an extension is unnecessary, saying that consumer advocate commenters generally supported extending the effective date, they did not focus on whether additional time is needed to implement the rules. The CFPB is indicating to debt collection law firms that the agency will be keeping tabs as hundreds of thousands of borrowers exit mortgage forbearance this fall.
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RAISING THE BAR 
