Four Things That the CFPB's Final Debt Collection Rule Got Right

As we all took our first pass at reading through the 653-page-long release of the Consumer Financial Protection Bureau's (Bureau or CFPB) final debt collection rule, most of our eyes immediately went to sections that cause complexity in implementation and practicality. That's a natural reaction for a businessperson trying to identify how to comply with as robust a regulation such as this. However, it's also important to take a step back and look at the rule as a whole. Doing so, it's impossible to ignore the many things that the Bureau got right. Below is a list of just a few.

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The Puzzle Box That is the Validation Notice Provision in the CFPB's New Rules

In the Notice of Proposed Rule-Making, the Consumer Financial Protection Bureau (CFPB or BCFP) appeared to be exploring providing "safe harbor" provisions for validation notices sent in the body of an email or electronic communication.

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