Contacting Delinquent Borrowers: Following the Spirit & Intent of the FDCPA
Debt collection is a common subject of complaints received by the CFPB. Take this opportunity to review the FDCPA and Regulation F to ensure your collection practices match the spirit and intent of the rules! This comprehensive, must-attend program will share great tools to help educate borrowers and recognize red flags for debt collection scams and loan fraud.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain the purpose of the FDCPA under Regulation F
- Recognize inconvenient time and place prohibitions for borrower contact
- Properly compute the debt validation notice timing requirements
- Calculate call restrictions of not more than seven times within seven days
- Understand how to handle a borrower’s written dispute
- Identify the triggering events of the three-year record-retention period
- Avoid prohibited collection practices – harassment, unfair practices, and false statements
WEBINAR DETAILS
Today’s borrowers can quickly gather information on what can and cannot be done to collect on an outstanding loan balance. While financial institutions typically do not collect third-party debt, and thus don’t meet the definition of a debt collector, your borrowers still have the same expectations. Thus, it is critical that your collection practices resemble the spirit and intent of Regulation F which implements the Fair Debt Collection Practices Act (FDCPA) to avoid potential consumer harm through unfair, deceptive, or abusive acts or practices (UDAAP). This presentation will explain the consumer protections and debt collector responsibilities of Regulation F, including communication efforts via email, text, and social media. The rules outline prohibitions on communications at unusual or inconvenient times or places, as well as bans on harassment or abuse. Join us to ensure that collection expectations are well understood.
WHO SHOULD ATTEND?
This informative session is designed for anyone actively involved in debt collection activities, including those responsible for third-party debt collector oversight, or reviewing adherence to the FDCPA or Regulation F. Whether new to collections or a seasoned employee, this webinar will provide a comprehensive review of the requirements.
