Washington (CNN) The Consumer Financial Protection Bureau introduced a new set of rules this week that would restrict the number of calls a debt collector can make and allow them to reach consumers via email and text messages.

The 538-page proposal from the federal financial watchdog would limit debt collectors from placing more than seven calls per week to try and reach a consumer. Once they reach the consumer, collectors would be required to wait at least a week before calling again.

Under the new regulations, introduced Tuesday, debt collectors would be able to use emails and text messages to reach consumers, who would have the option to unsubscribe from receiving the messages.

The proposed rules, however, do not include a cap on the number of emails and texts collectors can send until a debtor opts out.

Debt collectors would not be allowed to contact consumers through work email addresses or social media.

Read More