Collector – July 2019 - 23

MAY 2019

CFPB announces
proposed rule for debt
collection industry.

that is at least five days after the collector
sent the validation notice, excluding legal
public holidays and weekends.
In the pre-rulemaking period, ACA
submitted a model validation notice to the
CFPB, and the proposed rule does include
a model form for a validation notice which
provides a safe harbor for collectors who use
it. (A note: it doesn't look exactly like what
ACA suggested.)
ACA will have comments and suggestions
surrounding improvements to the model
validation notice, including requirements for
itemization and other aspects of it that don't
account for different types of debt.
Section 1006.34 of the proposed rule
would also permit a debt collector to
include statements in the validation notice
informing consumers how they may request
the notice in Spanish, if the collector
chooses to provide a Spanish-language
translation. The proposal would permit
a debt collector to provide a validation
notice translated into any language, if
the debt collector also sends an Englishlanguage validation notice in the same
communication or if the debt collector
previously sent an English-language
validation notice.

NEXT STEPS
We've said it before and we'll say it again:
this is only a proposed rule and is not a
final regulation. The rule is subject to a
90-day public comment period following
its publication in the Federal Register,
which concludes on Aug. 19.
Days after the proposed rule was
announced, ACA held a members-only
teleseminar to walk members through
each component of the rule. Additional

COLLECTOR 07.19

teleseminars addressing specific aspects
of the proposed rule were held in June
(you can purchase recordings here www.
acainternational.org/shop). ACA's Annual
Convention & Expo, which will be held July
14-16 in San Diego, will also address the
proposed rule at multiple education sessions
and panels.
ACA members are encouraged to
review the proposed rule and discuss its
impact with your compliance, operations
and executive teams. ACA gathered
member feedback about compliance
burdens or benefits the proposed rule
might provide, and is currently drafting
a comment letter to the CFPB. ACA will
also be seeking support of Congress,
like-minded groups and other regulators
during the rulemaking process.
Will the final rule be very different from
the proposed rule? How drastically will
it change? Industry experts speculate the
rule's main points will probably remain
the same (for example, we can be certain
it will address validation notices in some
capacity), but what the bureau will do
between now and when the rule is released
is fine-tune the details. That's why ACA will
continue to work closely with the CFPB to
advocate on behalf of the accounts receivable
management industry and to ensure that
the final rule will be beneficial for the debt
collection industry and consumers alike.
Anne Rosso May is managing editor of
Collector magazine.

1

The CFPB's proposed rule
provides some regulatory
clarity for the Fair Debt
Collection Practices Act, more
than 40 years after the law's
enactment.

2

Many of the issues
ACA pushed the
CFPB to address-a safe
harbor for voicemail
messages and how to
lawfully communicate with
consumers through email
and text messages-made it
into the proposed rule.

3

After you review the
proposed rule, submit
your comments about it
directly to the CFPB.

23


http://www.acainternational.org/shop http://www.acainternational.org/shop https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-NPRM.pdf

Collector – July 2019

Table of Contents for the Digital Edition of Collector – July 2019

Upfront
Industry News
Best Practices
FYI
Collection Tips
What you need to know about the CFPB’s proposed new rule for the debt collection industry
“I don’t know about you, but I’ve literally never received a telegram and wouldn’t even know how to send one.”
Celebrating 80 Years of Helping Members Succeed
How Does ACA Help Members Succeed?
A History of Advocacy
8 Decades of ACA’s Annual Convention
Calendar
Honor Roll
Education Spotlight
Tell It Like It Is: Washington Hears From ACA Members
Collectors Challenge 2019: Getting Creative for a Good Cause
Balance it Out
Balance Billing Challenges Continue
It’s All About You: Helping Members Succeed
Sandbox Rules
What is a Product Sandbox?
in 11th Circuit Case Examining What Constitutes an ATDS
ACA SearchPoint
Ad Index
Membership
Last Word
Collector – July 2019 - Cover1
Collector – July 2019 - Cover2
Collector – July 2019 - 1
Collector – July 2019 - 2
Collector – July 2019 - 3
Collector – July 2019 - Upfront
Collector – July 2019 - 5
Collector – July 2019 - Industry News
Collector – July 2019 - 7
Collector – July 2019 - 8
Collector – July 2019 - 9
Collector – July 2019 - Best Practices
Collector – July 2019 - 11
Collector – July 2019 - FYI
Collector – July 2019 - 13
Collector – July 2019 - Collection Tips
Collector – July 2019 - 15
Collector – July 2019 - What you need to know about the CFPB’s proposed new rule for the debt collection industry
Collector – July 2019 - 17
Collector – July 2019 - “I don’t know about you, but I’ve literally never received a telegram and wouldn’t even know how to send one.”
Collector – July 2019 - 19
Collector – July 2019 - 20
Collector – July 2019 - 21
Collector – July 2019 - 22
Collector – July 2019 - 23
Collector – July 2019 - Celebrating 80 Years of Helping Members Succeed
Collector – July 2019 - 25
Collector – July 2019 - How Does ACA Help Members Succeed?
Collector – July 2019 - 27
Collector – July 2019 - 28
Collector – July 2019 - 29
Collector – July 2019 - A History of Advocacy
Collector – July 2019 - 31
Collector – July 2019 - 8 Decades of ACA’s Annual Convention
Collector – July 2019 - 33
Collector – July 2019 - 34
Collector – July 2019 - 35
Collector – July 2019 - Calendar
Collector – July 2019 - Honor Roll
Collector – July 2019 - Education Spotlight
Collector – July 2019 - 39
Collector – July 2019 - Tell It Like It Is: Washington Hears From ACA Members
Collector – July 2019 - 41
Collector – July 2019 - Collectors Challenge 2019: Getting Creative for a Good Cause
Collector – July 2019 - 43
Collector – July 2019 - Balance Billing Challenges Continue
Collector – July 2019 - 45
Collector – July 2019 - 46
Collector – July 2019 - 47
Collector – July 2019 - It’s All About You: Helping Members Succeed
Collector – July 2019 - 49
Collector – July 2019 - 50
Collector – July 2019 - 51
Collector – July 2019 - What is a Product Sandbox?
Collector – July 2019 - 53
Collector – July 2019 - in 11th Circuit Case Examining What Constitutes an ATDS
Collector – July 2019 - 55
Collector – July 2019 - ACA SearchPoint
Collector – July 2019 - Ad Index
Collector – July 2019 - Membership
Collector – July 2019 - 59
Collector – July 2019 - Last Word
Collector – July 2019 - Cover3
Collector – July 2019 - Cover4
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