|Title:||Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt|
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.
|Comments due date:|
May 1, 2023
|Rule compliance date:|
|Related Reg Report item(s):||
Advisory asserts attempting to foreclose on ‘zombie mortgages’ is illegal, with focus on ‘piggybacks’