CFPB Redefines Large Debt Collectors in Proposed Rulemaking
Published Date: 8/8/2025
Proposed Rule
Summary
The CFPB wants to hear from folks about changing the rules that decide which debt collectors are 'big players' in the market. This could affect companies that collect consumer debt by changing who has to follow tougher rules. If changes happen, they’ll let everyone know when and how it might impact money and deadlines.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
CFPB May Redefine Big Debt Collectors
The CFPB is asking for information to decide whether to change the test that defines who counts as a 'larger participant' in the consumer debt collection market. The current Larger Participant Rule was published on October 31, 2012. If the CFPB changes that test, it could change which debt-collection companies must follow the Bureau's tougher rules.
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