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Overdraft Collection Practices

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Question: 
We don’t outsource our overdraft collections so why do we need to worry about the Fair Debt Collection Practices Act?
Answer: 

Although the FDCPA doesn’t apply to first party debt collection, examiners evaluate collection practices for potential unfair, deceptive or abusive activities and can still cite institutions for violating Federal Trade Commission or Dodd-Frank Act rules.

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Learn more about Brian Crow’s webinar The Maze of Overdraft Compliance

First published on 10/18/2020

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