On April 19, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule that requires “debt collectors” to provide written notice to residents of their rights under the CDC eviction moratorium. Furthermore, the CFPB’s announcement states, “Debt collectors who evict tenants who may have rights under the moratorium without providing notice of the moratorium or who misrepresent tenants’ rights under the moratorium can be prosecuted by federal agencies and state attorneys general for violations of the Fair Debt Collection Practices Act (FDCPA) and are also subject to private lawsuits by tenants.”
The applicability of this rule depends on numerous factors, but property managers, attorneys and others involved in evictions may be subject to the new requirement if they are categorized as a debt collector.
The release of this rule comes just weeks after the Administration extended the CDC eviction moratorium and on the heels of a joint CFPB and FTC announcement, which outlined their intent to investigate eviction practices they deem unlawful.
The new rule goes into effect May 3. NMHC encourages members to review the sample disclosure language provided by the CFPB and consult with legal counsel to learn more about individual compliance obligations.
For more information on NMHC’s ongoing advocacy efforts regarding the eviction moratorium, click here.
- House Republicans Introduce Legislation to Address Rental Arrears
- Treasury Fulfills NMHC Request to Establish Online Hub of State and Local Rental Assistance Programs
- Real Estate Coalition Letter - Ending the Eviction Moratorium
- FHFA Announces Extension of Enterprise Multifamily Forbearance Program
- Office of the Comptroller of the Currency Suspends Implementation of New CRA Regulation