CFPB Delays Proposal on Stale Debts Due to Coronavirus

March 20, 2020, 7:14 PM

The Consumer Financial Protection Bureau is extending the comment period for a proposal that would clarify rules on collecting stale debt, the first of several potential delays due to the new coronavirus.

The CFPB on Friday announced that it would extend the comment period for supplemental proposal for time-barred debt until June 5 due to the “challenges posed by the Covid-19 pandemic.” Covid-19 is the disease caused by the new coronavirus.

The comment period on the proposal was originally set to close on May 5.

More rule delays could follow at the bureau and other financial regulators due to travel...

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