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Financial Services Law Insights and Observations

CFPB: Debt collectors must provide written notice for evictions

Federal Issues CFPB Debt Collection Covid-19 Agency Rule-Making & Guidance CDC FDCPA State Attorney General

Federal Issues

On April 19, the CFPB issued an interim final rule (IFR) to amend Regulation F, which implements the FDCPA, that will require debt collectors to provide tenants written notice alerting them of their rights under the CDC’s moratorium on evictions in response to the Covid-19 pandemic. Failure to provide notice will be considered a violation of the FDCPA, which may result in a private right of action as well as actual damages, statutory damages, and attorney’s fees. The Bureau noted in its press release that the IFR does not preempt more protective state laws. Additionally, debt collectors are prohibited from misrepresenting renters’ eligibility for temporary protection under the CDC’s moratorium. Sample disclosure language and a summary of the IFR have been provided by the Bureau as well.

The IFR will take effect May 3. Comments are due 15 days after publication in the Federal Register.

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