CFPB Extends Comment Period on Debt Collection Proposal

The Consumer Financial Protection Bureau (CFPB) today announced that it would extend the comment period for the Notice of Proposed Rule Making implementing the Fair Debt Collections Practices Act (FDCPA). 

The extension was granted in response to a letter from AFSA, the Center for Responsible Lending, and the National Consumer Law Center.

AFSA commends the Bureau for the extension, which will give trade associations, consumer groups, and others the opportunity to more fully respond to the hundreds of questions in the proposed rule.