As a passionate advocate for the accounts receivable management (ARM) industry, I have a growing concern about the misinformation flooding the marketplace related to the requirements of Regulation F in the final Consumer Financial Protection Bureau (CFPB) debt collection rule. Frankly, I’m shocked and dismayed by the ads, blogs, and webinars I’ve encountered that are proselytizing bad information about the most important, game-changing document to impact the third-party debt collection industry since 1977.
Today, in the interest of helping protect your business from potentially severe legal missteps, I’m going to tackle some of the falsehoods I’m seeing and set the record straight. As always, be sure to consult your legal counsel for specific advice related to these and other aspects of the final CFPB debt collection rule.
11 Examples of Misstatements About the CFPB Debt Collection Rule (Regulation F)
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