Now that the Debt Collection Rule is Final – How are You Changing Your Communication Strategy? And should you? (sponsored)

Since the October 30 CFPB ruling, there have been several articles, webinars, and blog posts regarding the Final Rule for debt collection, and I wanted to provide you with an overview of our perspective.

We have spoken with many industry experts. They include RevSpring’s Chief Compliance Officer, Crista Harwood, outside counsel, and a number of our clients. We have also listened to industry panel discussions. There is a lot of information to break down regarding the guidance for text and email communications.

Ultimately, the telephone call limit that the CFPB outlined is clear, and there is an opportunity to consider other forms of communication once that limit is met. We expect many clients to embrace email and text as preferred mediums for post-call limit collection communications. These channels of communication do not require compliance with E-Sign.

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