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CFPB Lets Debt Collectors Text, Email Under New Rules (2)

May 7, 2019, 2:25 PMUpdated: May 7, 2019, 7:23 PM

The Consumer Financial Protection Bureau would limit the number of times that debt collectors can contact consumers and expand their ability to use email and texts to contact consumers under proposed rules issued May 7.

The CFPB’s long-awaited proposal for updating the Fair Debt Collection Practices Act comes amid concerns that the Republican-led bureau is pulling back on protections in other consumer finance markets. But the rules seek to strike a balance by updating the FDCPA to include clarity for how consumers can stop unwanted texts, emails and other electronic communications and dispute debts they think are incorrect, among other ...

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