Surf City Repo
A proposed rule issued by an agency of the Treasury Department last week started making waves in the accounts receivable management industry when it became clear that collection operations would be subject to the proposal which is aimed at mandating that required disclosures given to consumers be done so in multiple languages, regardless of the communication channel being used. The proposed rule, which was issued by the Financial Stability Oversight Council, would most likely only apply to the mini-Miranda notice, but would require companies make the disclosure in five different languages.
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