On June 28, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (the “2021 Mortgage Servicing COVID-19 Rule”) amending Regulation X to protect borrowers from financial distress upon expiration of...more
On April 5, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a notice of proposed rulemaking that proposes amendments to its Mortgage Servicing Rule (the “Proposed Rule”) to provide additional assistance for...more
Action Item: Banks and other consumer finance firms that purchase delinquent debt and then collect on their own behalf are not “debt collectors” under the Fair Debt Collection Practices Act. However, this limitation still...more