Business Law

CFPB Provides Guidance and Warnings about “In Person” Collection of Debt

In a Supervisory Bulletin released on December 16, 2015, the Consumer Financial Protection Bureau (“CFPB”) opined about practices the Bureau had noticed “in the field” during supervisory examinations and enforcement investigations.  The purpose of the Bulletin, according to the Bureau, was to provide specific guidance with regard to debt collection to the following parties:

  • Creditors;
  • Debt Buyers; and
  • Third-Party Collectors

The Bulletin specifically focuses

  • the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (sections 1031 and 1036); and
  • Fair Debt Collection Practices Act (FDCPA

With Regard to Dodd Frank, the Bureau warned that warned that First Party and Third-Party debt collectors may run a “heightened risk” of committing the unfair acts or practices prohibited by Dodd Frank.  In-person collections may cause substantial reputational injury to consumers if the visit results in third parties finding out that the consumer has a debt in collection.  Also of note was the chance that the consumer would be caused employment consequences if the employer prohibited personal visitors. 

CFPB Compliance Bulletin 2015-7 may be accessed in its entirety here:

For more information, please contact Jennifer Duncan of ResortCom International at  

Consumer Financial Services Committee

Jennifer Duncan  
ResortCom International LLC

Vice Chair of Communications 
Alicia Tortarolo
Hudson Cook LLP

Vice Chair of Programming
Andrew Noble
Severson & Werson

Vice Chair of Membership
Scott M. Pearson
Ballard Spahr LLP

Vice Chair of Legislation
Brian Farrell
Sheppard Mullin Richter & Hampton LLP

Avital Samet

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