Several new debt collection rules have been announced by the Consumer Financial Protection Bureau (CFPB). These rules, through what is called Regulation F, offer greater control to consumers over the various method and times they will be able to be contacted by debt collectors.
Regulation F was implemented by the CFPB on October 30, 2020, and December 18, 2020. The regulation was created to interpret the Fair Debt Collection Practices Act (FDCPA). The FDCPA is meant to protect consumers from abusive collection tactics by third-party debt collectors. Regulation F officially went into effect on November 30, 2021. The FDCPA and the regulations included in Regulation F apply only to third-party debt collectors and not original creditors.