This Commentary is the vehicle by which the staff of the Federal Trade Commission
publishes its interpretations of the Fair Debt Collection Practices Act (FDCPA). It is a guideline
intended to clarify the staff interpretations of the statute, but does not have the force or effect of
statutory provisions. It is not a formal trade regulation rule or advisory opinion of the Commission,
and thus is not binding on the Commission or the public.
Because the Commission’s Guides Against Debt Collection Deception have been superseded by, and submitted in, the Fair Debt Collection Practices Act (FDCPA), the Commission has determined that it is in the public interest to eliminate them. The Guides were adopted in 1967 to codify the results of many debt collection cases brought by the Commission against debt collectors and creditors under Section 5(a)(1) of the Federal Trade Commission Act (FTCA).
The FTC has learned that, to recover on a decedent’s debts, some debt collectors contact the decedent’s relatives, although these relatives may have no authority to pay the debts from the decedent’s estate and no legal obligation to pay the debts from their own assets. By contacting persons who are not specified in Section 805 of the FDCPA, and by engaging in practices that may deceive those persons about their obligations, these debt collectors may be violating the FDCPA.The FTC will forebear from enforcing Section 805(b) of the FDCPA, 15 U.S.C.
This bulletin describes certain acts or practices related to the collection of consumer debt that could, depending on the facts and circumstances, constitute UDAAPs prohibited by the Dodd-Frank Act. Whether conduct like that described in this bulletin constitutes a UDAAP may depend on additional facts and analysis.
In response to recent practices observed during supervisory examinations and enforcement investigations, the Consumer Financial Protection Bureau (CFPB or Bureau) issues this bulletin to provide guidance to creditors, debt buyers, and third-party collectors about compliance with the Fair Debt Collection Practices Act (FDCPA) and sections 1031 and 1036 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) when making representations about the impact that payments on debts in collection may have on credit reports and credit scores.
Debt buyers, debt collectors, and others who furnish information to credit reporting agencies have a variety of obligations under the Fair Credit Reporting Act (FCRA) and Regulation V. The Consumer Financial Protection Bureau (CFPB) issues this bulletin to highlight one of those obligations—the obligation of furnishers to investigate disputed information in a consumer report. The CFPB is concerned that, when a furnisher responds to a consumer’s dispute, it may, without conducting an investigation, simply direct the consumer reporting agency (CRA) to delete the item it has furnished.
The Bureau of Consumer Financial Protection (CFPB) is issuing this compliance bulletin and policy guidance to residential mortgage servicers and subservicers (collectively, servicers), in light of potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights. The CFPB’s concern in this area remains heightened due to the continuing high volume of servicing transfers.
The CFPB is issuing this Compliance Bulletin to industry to remind entities of their obligations under the Electronic Fund Transfer Act (EFTA) and Regulation E when obtaining consumer authorizations for preauthorized electronic fund transfers (EFTs) from a consumer’s account. This Compliance Bulletin summarizes the current law, highlights relevant supervisory findings, and articulates the CFPB’s expectations for entities obtaining consumer authorizations for preauthorized EFTs to help them ensure their compliance with Federal consumer financial law.
In response to recent practices observed during supervisory examinations and enforcement investigations, the Consumer Financial Protection Bureau (CFPB or Bureau) issues this compliance bulletin to provide guidance to creditors, debt buyers, and third-party collectors about compliance with sections 1031 and 1036 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) and the Fair Debt Collection Practices Act (FDCP A) when collecting debt from consumers.
The CFPB is seeking comment, data, and information from the public about debt collection practices. The CFPB is considering proposing rules relating to debt collection and is interested in learning through responses to this advance notice of proposed rulemaking (ANPR) about the debt collection system, about consumer experiences with the debt collection system, and about how rules for debt collectors might protect consumers without imposing unnecessary burdens on industry.