Implementing the Fair Debt Collection Practices Act and Regulation F Webinar

What?
The Fair Debt Collection Practices Act (title VIII of the Consumer Credit Protection Act) (15 USC 1692) became law in 1977. Now, after more than 40 years later, big changes are underway.

  • On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) issued a proposal (the May 2019 Proposed Rule) to amend Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA). The May 2019 Proposed Rule prescribed federal rules governing the activities of debt collectors, as that term is defined in the FDCPA.
  • A supplemental proposal on time-barred debt was published on February 21, 2020. The supplemental proposal modifies the May 2019 Proposed Rule by adding a proposed §1006.26(c), as well as a related provision of §1006.34(c), Model Forms, and Official Interpretations. It would require debt collectors to make certain disclosures when collecting time-barred debts.
  • On October 30, 2020, the CFPB issued a final Regulation F, which governs the activities of debt collectors. The final rule:
    • Addresses, among other things, communications in connection with debt collection and prohibitions on harassment or abuse, false or misleading representations, and unfair practices in debt collection.
    • Will be effective one year after publication in the Federal Register.
    • Applies to the activities of debt collectors subject to the FDCPA and does not apply to the activities of creditors who are not FDCPA debt collectors.
    • The final rule promised a second ‘€œdisclosure-focused final rule’€ in December.
  • On December 18, 2020, the CFPB released the second part of Regulation F. The most recent release has three primary components dealing with validation notices, passive debt collection through negative reporting, and the collection of time-barred debt.
  • Both parts of the final rules are effective on November 30, 2021.

Why?
This program provides a review of both parts of the final rule. Regulation F applies to debt collectors. The rules apply directly to financial institutions if the institution is collecting a debt owed to a third party or is collected its own debt, but is using a different name. Failure to follow the rule when collecting direct debt can result in UDAP violations.

Participants receive a detailed manual that serves as a handbook long after the program is completed.

Covered Topics

  • When a financial institution is covered by the Fair Debt Collection Practices Act and Regulation F;
  • Prohibitions regarding communication:
    • At unusual or inconvenient times or places;
    • 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; and
  • 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.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

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Related Topics

Instructor

Jack Holzknecht
Jack Holzknecht

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 45 years. In 40 years as a trainer over 150,000 bankers (and many examiners) have part... read more.

Course TitleCreditsStart DateStart TimeDelivery TypeDelivery OptionInstructor / LocationPrice
Implementing the Fair Debt Collection Practices Act and Regulation F0.25 Any AnyWebinarSix Month On-Demand Recording Jack Holzknecht$295.00 Register Now
Implementing the Fair Debt Collection Practices Act and Regulation F0.25 Any AnyWebinarCD-ROM Video Recording Jack Holzknecht$345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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