On July 27, 2022, the CFPB updated its Frequently Asked Questions pertaining to compliance with the Debt Collection Rule. Four new sections were added as follows:
Prohibitions on Third-Party Communications (3 FAQs)
The new questions and answers cover the general prohibition and exceptions on third-party communications, as well as how it applies to electronic communication.
Electronic Communication (1 FAQ)
This answers the question on the requirement for communicating electronically to consumers.
Electronic Communication: Opt-out Notice (4 FAQs)
These FAQs clarify the rules on consumer’s option to limit debt collector communications, particularly on electronic means of debt collection.
Unusual or Inconvenient Times or Places (7 FAQs)
These FAQs expound on the rules and exceptions for limiting debt collection due to unusual or inconvenient time or places, as dictated by the regulations or by the customer.
The updated Debt Collection Rule FAQs can be found here.