Regulation F (Reg F)

Scope, in the rule's words

• Purpose. "This part carries out the purposes of the FDCPA." (12 CFR 1006.1(b))

• Coverage. "this part applies to debt collectors, as defined in Sec. 1006.2(i), other than a person excluded from coverage by section 1029(a) of the Consumer Financial Protection Act of 2010." (1006.1(c)(1))

• Debt collector. Defined at 1006.2(i)(1) in nearly the FDCPA's words. It also "includes any creditor that, in the process of collecting its own debts, uses any name other than its own that would indicate that a third person is collecting or attempting to collect such debts." Our Debt Collector (FDCPA) entry quotes the full definition and the exclusions.

• Debt. "any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services that are the subject of the transaction are primarily for personal, family, or household purposes, whether or not the obligation has been reduced to judgment." (1006.2(h))

• How these definitions map onto a given agency, lender, or in-house team is a question teams often review with their own compliance team or counsel.

(12 CFR 1006.1, 12 CFR 1006.2)

Where it came from

The CFPB issued Reg F as two final rules. The first, published Nov 30, 2020 (85 FR 76734), addressed, in its own summary, "communications in connection with debt collection and prohibitions on harassment or abuse, false or misleading representations, and unfair practices in debt collection." The second, published Jan 19, 2021 (86 FR 5766), covers validation information, time-barred debt, and furnishing to consumer reporting agencies. Both took effect Nov 30, 2021.

What's in it

A short tour of sections people mention most, in the rule's terms:

• Call frequency, 1006.14(b). Presumptions of compliance and of violation built around seven calls in seven consecutive days and a seven-day period after a telephone conversation, per particular debt. The CFPB's FAQs say the rule "does not impose a specific 'limit' or 'cap.'" Details in our 7-in-7 Rule entry.

• Inconvenient times, 1006.6(b)(1)(i). Absent knowledge to the contrary, "a time before 8:00 a.m. and after 9:00 p.m. local time at the consumer's location is inconvenient."

• Electronic messages, 1006.6(e). An electronic communication includes "a clear and conspicuous statement describing a reasonable and simple method by which the consumer can opt out of further electronic communications."

• Limited-content messages, 1006.2(j). A defined voicemail format: "a voicemail message for a consumer that includes all of the content described in paragraph (j)(1)..., that may include any of the content described in paragraph (j)(2)..., and that includes no other content." The definition of "attempt to communicate" says it "includes leaving a limited-content message." (1006.2(b))

• Validation information, 1006.34. Sets out the validation information a debt collector provides, in the initial communication or "Within five days of that initial communication," among other options.

• Record retention, 1006.100. Records are kept for three years after the last collection activity on the debt, and call recordings, if made, for three years after the call. The commentary adds: "Nothing in Sec. 1006.100 requires a debt collector to record telephone calls."