FDCPA-Reg F: What You Need to Know Before Nov. 30, 2021

A comprehensive federal debt collection regulation interpreting the Fair Debt Collection Practices Act (FDCPA) takes effect Nov. 30, 2021. The updated regulation applies to debt collectors as defined by the FDCPA, which generally includes debt collection agencies, collection attorneys, debt buyers, and mortgage servicers that obtained the account in default, and generally excludes original creditors.

While the revised rule does not specifically address first-party creditors, credit unions should be aware of the rule and ensure that any third-party collectors engaged by the credit union are in compliance with Regulation F.

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