Answer:
The Fair Debt Collection Practices Act (FDCPA) applies to banks:
If he bank collects debt owed to another;
If the bank collects its own debts using an assumed name; or
When the bank refers a debt to a debt collector it has vendor management responsibilities.
The bank may also have liability under laws that prohibit Unfair, Deceptive, or Abusive Acts or Practices for engaging in acts or practices that the FDCPA deem to be unfair, deceptive or abusive.
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Learn more about Jack Holzknecht’s Implementing the Fair Debt Collection Practices Act and Regulation F webinar.
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