Lending

2021 Debt Collection Changes


Description
In this session we will cover the new debt collection rules that update the Fair Debt Collection Practices Act, which outlines how a debt collector must behave when attempting to collect a debt from a consumer. The FDCPA is over forty years old and needed some refreshing. We will discuss how often a collector may call on any single day and the new seven day waiting period after live contact. We will discuss the specific constraints of social media contact, text messages, emails, and DMs. We will look at how the regulation has now simplified the validation of debt and what collectors must do before reporting on a debt.

This training is intended for those financial institutions that originate and sell loans to investors that require such loans to meet the revised General QM definition as of July 1, 2021.

What You Will Learn:

• New standards
• New Prohibitions

Who Should Attend
Compliance Officers, Auditors, and Operations Staff.

Air Date: October 7, 2021

Instructor Name: Diane Banks

Content
  • 2021 Debt Collection Changes Recorded Webinar
Completion rules
  • You must complete the units "2021 Debt Collection Changes Recorded Webinar"
  • Leads to a certificate with a duration: 1 year