CFPB: Prohibition of Unfair, Deceptive, or Abusive Acts or Practices in the Collection of Consumer Debts

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Business Concepts Unconscionable Acts by Debt Collectors

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd Frank Act), all covered entities are legally required to refrain from committing unfair, deceptive, or abusive acts or practices (collectively, UDAAPs) in violation of the Act.
Certain acts or practices related to the collection of consumer debt that could, depending on the facts and circumstances, constitute UDAAPs prohibited by the Dodd-Frank Act. Whether conduct like that described in this bulletin constitutes a UDAAP may depend on additional facts and analysis.

The examples described in this bulletin are not exhaustive of all potential UDAAPs. The Bureau may closely review any covered person or service provider’s consumer debt collection efforts for potential violations of Federal consumer financial laws.
A. Background

UDAAPs can cause significant financial injury to consumers, erode consumer
confidence, and undermine fair competition in the financial marketplace. Original
creditors and other covered persons and…

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