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Predictions for 2022 Include CFPB Proposals to Amend Regulation F

  • Written by Peter J. Scalise

More states will focus on medical and student loan debt. You can add condominium and homeowners association debt to that mix. Like last year, there is significant pressure to restrain debt collection at the state and local level and it will likely take the form of increased exemptions afforded to judgment debtors and temporary suspensions of executions, garnishments, evictions and foreclosures. There will be continued efforts to roll back the new FDCPA rules. Because the FDCPA will give way to more restrictive state regulation, you should see several states introduce legislation designed to limit electronic communications and the frequency of telephone communications. The District of Columbia has already enacted “anti-Reg. F” provisions, New York has already proposed them, and California will likely follow. A comprehensive privacy bill is pending in New York and a lead sponsor has stated its passage is a priority. However, others have questioned whether it will see the governor’s desk.

It shouldn’t be long before we see proposals from the CFPB to amend or add additional rules to Regulation F. More FDCPA and FCRA litigation will find its way into state courts and by the end of 2022, more of these cases will be pending in state courts. To read more click here.