Time-Barred Debt SNPRM Comment Clock Starts Ticking

If your organization was planning on submitting a comment to the Consumer Financial Protection Bureau's (CFPB) Supplemental Notice of Proposed Rulemaking (SNRPM) for time-barred debts, it's time to set your calendars. The SNPRM is set to be published in the Federal Register tomorrow, March 2, which means the clock for the comment deadline—set to expire 60 days after publication—is ticking. 

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The 60-day mark falls on May 2, which is a Saturday so it is likely that the due date will be the following Monday or the Friday immediately prior. In the current version, there is still a placeholder on the due date, but that might be updated tomorrow when the actual text of the Federal Register notice—rather than just the PDF—is published.

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