The CFPB extended the comment period on a Request for Information on (i) credit card late fees and late payments, and (ii) card issuers' revenue and expenses
The CFPB requested information from credit card issuers, consumer groups and the public regarding credit card late fees and card issuers' revenue and expenses. An advance notice of proposed rulemaking was published in the Federal Register with a comment deadline set for July 22, 2022.
The CFPB confirmed that the effective date of two final rules on debt collection communications remains November 30, 2021. The agency will withdraw an April 2021 proposal that would have extended the effective date to January 29, 2022.
A CFPB proposal to delay the effective date of two final rules amending Regulation F, which implements the Fair Debt Collection Practices Act, was published in the Federal Register.