Uncle Sam wants feedback on proposed fed rules for collecting debt

The Consumer Financial Protection Bureau has extended the comment period for its proposal that would change rules for collecting debt, including medical debt.

The bureau said it is extending the comment period by 30 days to Sept. 18 to give commenters ample time to consider issues raised in the proposal, gather data and prepare responses.

The bureau's proposal on implementing the Fair Debt Collection Practices Act aims to protect consumers against harassment by debt collectors, as well as provide avenues to address or dispute the debt.

According to the bureau, the proposal would set clear limits on how many times debt collectors can contact consumers weekly; interpret and apply bans on harassment or abuse, false or misleading representations and unfair practices in debt collection; and require collectors to give consumers more information to help them identify debts and respond to attempts to collect overdue bills.

Read the full proposed rule here.


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