Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt

 

Title: Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt
Subject: FDCPA
Agency: CFPB
Status:
Advisory opinion
Summary:

The Consumer Financial Protection Bureau (CFPB) is issuing this advisory opinion to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector, as that term is defined in the statute and regulation, from suing or threatening to sue to collect a time-barred debt. Accordingly, an FDCPA debt collector who brings or threatens to bring a State court foreclosure action to collect a time-barred mortgage debt may violate the FDCPA and Regulation F.

FR Doc: 2023-09171
Date proposed:
Comments due date:
Effective date:

May 1, 2023

Rule compliance date:
Agency release:
Related Reg Report item(s):

Advisory asserts attempting to foreclose on ‘zombie mortgages’ is illegal, with focus on ‘piggybacks’