Every consumer debt collection interaction has the potential to cost your organization massive fines and potential lawsuits. With fines ranging from $500 – $1,500 per dial, penalties have resulted in multi-million-dollar lawsuits for numerous prominent enterprises.
There are multiple federal and state governing bodies that have rules protecting consumers from debt collection organizations, many with nuances and differences from federal law. It’s hard to know everything to look for to ensure your organization is maintaining compliance.
Read our latest guide, The Ultimate Collections Compliance Checklist for 2024, to view a comprehensive rollup of what your organization needs to be aware of while evaluating your own internal compliance standards.
Read more about:
- How the Telephone Consumer Protection Act (TCPA), The Fair Debt Collection Practice Act (FDCPA), and Consumer Financial Protection Bureau (CFPB) all impact your organization’s ability to remain compliant
- The critical differences in contact frequency at the federal and state/local level and why you must protect your organization at each level
- Clarification on the rules surrounding wireless restrictions and disconnected/reassigned phone numbers
- Managing opt-outs/internal Do Not Call lists and more
Understanding each of these regulations can significantly impact your organization’s ability to remain compliant.