Implementing The Fair Det Collection Practices Act And Regulation F
About This Course:
This program provides a review of both parts of the final Regulation F. The rules apply directly to financial institutions if the institution is collecting a debt owed to a third party or is collecting its own debt, but is using a different name.
UDAAP and state law make FDCPA principles directly applicable to a financial institution's collecting its own debt. Financial institutions also have vendor management issues that arise when using third-party collectors. Failure to follow the rule when collecting debt in any of these scenarios can result in violations of Regulation F, UDAAP, or state law.
What You'll Learn:Covered Topics- When a financial institution is covered by the Fair Debt Collection Practices Act and Regulation F
- Prohibitions regarding communication:
- With a consumer represented by an attorney
- With a consumer with a consumer at his/her place of employment
- After a consumer refuses to pay or provides a cease communication notice
- With third parties
- Rules regarding acquisition of location information
- Prohibitions regarding:
- Harassing, Oppressive, or Abusive Conduct
- False, Deceptive, or Misleading Representations or Means
- Unfair or Unconscionable Means
- Collection of Time-Barred Debts
- Validation Notices
- Disputes and Requests for Original-Creditor Information
- Required Disclosures
- Electronic Disclosure Options.
Who Should Attend?The program is designed for senior lending management, collection personnel, loan officers, compliance officers, and auditors. Whether new to the requirements of FDCPA and Regulation F or a seasoned veteran, this program provides a comprehensive review of the revisions.