The Consumer Financial Protection Bureau will likely be developing new debt collection laws and regulations for the debt collection industry. They published an Advance Notice of Proposed Rulemaking in the Federal Register in November. The publication is essentially an invitation for stakeholders to provide input for new debt collection laws and regulations. The problem is that, for most people, the process of submitting comments and opinions can be cumbersome and daunting.
This is why the CFPB has partnered with Cornell Law School’s RegulationRoom.org. Instead of submitting a formal response to regulations.gov, you can share your debt collection experiences and your opinions about changes to debt collection laws and regulations at RegulationRoom.org. They’ll compile the feedback and put it in a format that conforms to the regulations.gov rules. While you can still participate in the formal commenting process via regulations.gov, it’s nice to know there’s a more accessible alternative.