This section of the FEDERAL REGISTER

contains notices to the public of the proposed

issuance of rules and regulations. The

purpose of these notices is to give interested

persons an opportunity to participate in the

rule making prior to the adoption of the final

rules.

Proposed Rules Federal Register

48918 

Vol. 86, No. 167 

Wednesday, September 1, 2021 

1 85 FR 76734 (Nov. 30, 2020); 86 FR 5766 (Jan. 

19, 2021). 

2 85 FR 76734, 76863 (Nov. 30, 2020); 86 FR 5766, 

5838 (Jan. 19, 2021). 

3 86 FR 20334 (Apr. 19, 2021). The April 2021 

proposal described the Bureau’s legal authority for 

issuing both that proposal and the Debt Collection 

Final Rules. Id. at 20335. 4 44 U.S.C. 3501 et seq. 

BUREAU OF CONSUMER FINANCIAL 

PROTECTION 

12 CFR Part 1006 

[Docket No. CFPB–2021–0007] 

RIN 3170–AA41 

Debt Collection Practices (Regulation 

F); Withdrawal of Proposal To Delay 

Effective Date 

AGENCY: Bureau of Consumer Financial 

Protection. 

ACTION: Proposed rule; withdrawal. 

SUMMARY: In 2020, the Bureau of 

Consumer Financial Protection (Bureau) 

finalized two rules (together, the Debt 

Collection Final Rules) revising 

Regulation F, which implements the 

Fair Debt Collection Practices Act 

(FDCPA). As finalized, the Debt 

Collection Final Rules had an effective 

date of November 30, 2021. On April 7, 

2021, the Bureau issued a proposal to 

delay that effective date by sixty days, 

until January 29, 2022. The Bureau is 

withdrawing that proposal for the 

reasons provided in this document. The 

Debt Collection Final Rules will take 

effect on November 30, 2021. 

DATES: The proposed rule, published at 

86 FR 20334, April 19, 2021, is 

withdrawn as of September 1, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Briana McLeod, Honors Attorney, or 

Seth Caffrey, Courtney Jean, or Kristin 

McPartland, Senior Counsels, Office of 

Regulations, at 202–435–7700. If you 

require this document in an alternative 

electronic format, please contact CFPB_

Accessibility@cfpb.gov. 

SUPPLEMENTARY INFORMATION: In October 

and December 2020, the Bureau issued 

the Debt Collection Final Rules to revise 

Regulation F, 12 CFR part 1006, which 

implements the FDCPA.1 The Debt 

Collection Final Rules prescribe Federal 

rules governing the activities of debt 

collectors as defined in the FDCPA. As 

finalized, the Debt Collection Final 

Rules had an effective date of November 

30, 2021, one year after the first debt 

collection final rule was published in 

the Federal Register. In finalizing the 

effective date for both final rules, the 

Bureau determined that a one-year 

period from the publication date of the 

first final rule would provide debt 

collectors sufficient time to implement 

the provisions of both rules.2

Because of the ongoing societal 

disruption caused by the global COVID– 

19 pandemic, and to afford stakeholders 

additional time to review and 

implement the Debt Collection Final 

Rules, the Bureau proposed in April 

2021 to extend the November 30 

effective date by 60 days, to January 29, 

2022.3 The Bureau requested comment 

on whether to extend the effective date, 

and if so, whether 60 days was an 

appropriate period for an extension. 

Most industry commenters stated that, 

despite the pandemic, they will be 

prepared to comply with the Debt 

Collection Final Rules by November 30, 

2021. Many industry commenters also 

stated that an extension would reduce 

regulatory certainty and thus increase 

burden on small entities. Consumer 

advocate commenters generally 

supported extending the effective date. 

However, these commenters generally 

did not focus on the effects of the 

COVID–19 pandemic or on whether 

stakeholders need additional time to 

review and implement the Rules. 

Instead, they urged the Bureau to use 

the extension to reconsider the Debt 

Collection Final Rules. However, 

extending the effective date to 

reconsider the rules is beyond the scope 

of the Bureau’s proposal. For these 

reasons, the Bureau has decided to 

withdraw the proposal. The Debt 

Collection Final Rules will take effect 

on November 30, 2021. 

The April 2021 proposal explained 

that the Bureau previously considered 

the costs, benefits, and impacts of the 

Debt Collection Final Rules’ major 

provisions. It further explained that, 

compared to the baseline established by 

the rules, the proposed extension of the 

rules’ effective date would generally 

benefit covered persons by facilitating 

initial compliance with the rules’ 

requirements and delaying the start of 

ongoing compliance costs but that it 

could also delay consumers’ realization 

of benefits arising from the protections 

provided by the rules. As discussed 

above, industry commenters generally 

did not agree that delaying the effective 

date would facilitate compliance. In 

addition, the Bureau indicated that it 

did not expect the proposed rule to have 

a differential impact on depository 

institutions and credit unions with $10 

billion or less in total assets as 

described in section 1026 of the DoddFrank Act or on consumers in rural 

areas. The Bureau also stated that it did 

not believe that the proposed effective 

date extension would reduce consumer 

access to consumer financial products 

and services, as the evidence discussed 

in the Debt Collection Final Rules 

indicates that the rules themselves will 

have limited negative impact on access 

to credit. Because this document 

withdraws the proposal to change the 

effective date, any costs and benefits 

associated with an extension will not be 

realized. Further, there are no additional 

costs, benefits, or impacts associated 

with this document beyond those 

previously considered with respect to 

the Debt Collection Final Rules’ major 

provisions. The Bureau has determined 

that this document will not have any 

new or revised information collection 

requirements (recordkeeping, reporting, 

or disclosure requirements) on covered 

entities or members of the public that 

would constitute collections of 

information requiring OMB approval 

under the Paperwork Reduction Act of 

1995.4

Signing Authority 

The Acting Director of the Bureau, 

David Uejio, having reviewed and 

approved this document, is delegating 

the authority to electronically sign this 

document to Laura Galban, a Bureau 

Federal Register Liaison, for purposes 

of publication in the Federal Register. 

Dated: August 26, 2021. 

Laura Galban, 

Federal Register Liaison, Bureau of Consumer 

Financial Protection. 

[FR Doc. 2021–18799 Filed 8–31–21; 8:45 am] 

BILLING CODE 4810–AM–P 


khammond on DSKJM1Z7X2PROD with PROPOSALS