Significant rules changes have been drafted by the Consumer Financial Protection Bureau (CFPB), and the industry is now within the comment period before final rules are published. Almost immediately, legislation has been drafted within Congress to offset portions of the rules, meaning that the final rules could look quite different. For collectors, these changes will have major impacts. Previously permissible outbound contacts strategies must evolve, while new preferred customer channels will open up opportunities to interact in new ways.
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