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What You Need to Know About Regulation F

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What You Need to Know About Regulation F

The Consumer Financial Protection Bureau (CFPB) Debt Collection Practices issued final rule “Regulation F”, 12 CFR part 1006 effective on November 30, 2021.  In order for collection agencies to comply with the validation information required under 12 CFR §1006.34, “Regulation F”, creditors will be required to include additional information on their placement files.

It’s important that Financial Institutions and Credit Unions understand the new data that must be supplied in order to comply with Regulation F.  If you're struggling with the new rule and are unsure what next steps you should take, feel good in knowing that you are not alone. 

As a leading provider of collection solutions, we can help industry experts like you understand how to remain compliant with the CFPB’s new rule.

We’ve outlined for you:

  • The new data that must be included when placing accounts for collection
  • How creditors are being directly impacted by the new rule
  • What’s changing for your collection agencies
  • What your consumers can expect

Download ConServe’s Complying with Regulation F: Fast Facts and Resources today to understand everything you need to know to ensure you’re in compliance.

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This website contains articles and third-party links posted for informational and educational value. ConServe is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, ConServe. The information in these materials should not be considered legal advice, and is not intended to be a full and exhaustive explanation of the law in any area. This information should not be used to replace the advice of your own legal counsel.

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