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Publications - Debt Collector's Compliance Guide

This guide is intended to provide consumer debt collectors or entities that act as consumer debt collectors with a detailed understanding of the guidelines established for CFPB investigators of entities who do consumer debt collection.†

These guidelines can change at any time and the reader should always look for the latest publication of guidelines and other information from the CFPB.

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Module 1 (Business model)
Module 2 (Communications in Connection With Debt Collection)
Module 3 (Information sharing, Privacy, and Interactions with Consumer Reporting Agencies)
Module 4 (Consumer Complaints, Dispute Resolution and Debt Validation)†
Module 5 (Payment Processing and Account Maintenance)
Module 6 (Equal Credit Opportunity Act)
Module 7 (Litigation Practices, Repossession and Time Barred Debt)

If you believe you are, or potentially are, a subject of a CFPB examination or investigation you should engage† proper counsel. This book is NOT intended as legal advice nor should be interpreted as such.


Why Compliance Matters

The environment is regulation and no industry is more regulated than consumer debt collection. There is no better place to spend your money by assuring your company and employees are in compliance with the federal and state regulations.

Why? Because, if you donít, you risk the fines of regulators, as well as, costs and potential awards from consumer lawsuits.

Good compliance practices contributes to financial well-being and reduced risk. It also demonstrates to employees the levels of enforcement that you demand to protect your company. Regulatory compliance is intended to protect consumers by requiring companies to incorporate certain policies and procedures into their business operations, especially in the debt collection industry where consumer information security and privacy are of prime concern.

Compliance with good internal policies and procedures contribute to improved revenues and profits which ultimately justify the costs of compliance.

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