Consumer Financial Protection Bureau issues interim final rule to back the CDC nationwide eviction moratorium

The Bureau of Consumer Financial Protection issued a new interim rule backing the CDC nationwide eviction moratorium. This rule goes into effect on May 3, 2021. Under the new rule, debt collectors (generally those who collect a debt for another) who evict tenants for non-payment of rent are required to provide those renters with notice of what rights they may have under the CDC’s moratorium. Notice of rights under the CDC moratorium must come at the same time as the eviction notice or the eviction filing. In short, this interim rule is requiring tenants to get notice of the CDC moratorium prior to or along with any eviction notice. Property management companies and/or those working on behalf of property owners should ensure they have reviewed and understand the Interim Rule from the Bureau of Consumer Financial Protection prior to the effective date of May 3, 2021.