We counsel banks and nonbanks on designing, developing, and implementing debt collection policies, procedures, and strategies. Informed by our experience in handling litigation and enforcement actions, we develop policies and procedures that will withstand regulatory scrutiny and prevail in court.
We partner with high-quality collection law firms and agencies, managing outsourcing relationships for our clients. We also develop and implement vendor oversight programs for proof of claim, bankruptcy, default lawsuits, writs of garnishment or sequestration, court orders for seizure and repossession, and recording judgment liens.
We advise collections clients on how the Fair Debt Collection Practices Act (FDCPA); Unfair, Deceptive, or Abusive Acts or Practices (UDAAP); and state debt collection laws and licensing regulations apply to their businesses. As regulations (and enforcement agency priorities) change, we proactively advise clients on the scope of regulatory authority, emerging trends, and risk areas relevant to their businesses.
We have many ways of keeping clients informed of regulatory developments, including customized web portals, our Consumer Financial Services Law Monitor blog, as well as weekly newsletters, podcasts, and other thought leadership. We also conduct 50-state surveys on state laws regarding debt collection requirements, repossession, right to cure, garnishment, consumer communication restrictions, and licensing requirements.
We help develop consumer and customer communications strategies, draft templates, and review default letters, notices, and contract terms to ensure they adhere to relevant state and federal laws concerning loan agreements and debt collection. We also develop 50-state resources for collection clients to use in collection letters, texts, emails, voice messages, and scripts.
Decades of experience informs our advice about appropriate and efficient debt collection strategies. We are well-versed in compliance issues related to the FDCPA, Regulation F, Telephone Communications Protection Act (TCPA), Fair Credit Reporting Act (FCRA), Servicemembers Civil Relief Act (SCRA), and the Electronic Funds Transfer Act (EFTA). We use this knowledge to help clients review, modify, and update their internal collection operations, ensuring ongoing compliance and mitigating potential risk.
Our multidisciplinary team has extensive experience interacting with key regulators, including the Consumer Financial Protection Bureau, the Federal Trade Commission, state licensing authorities, and state attorneys general. We prepare clients for exams, license reviews, hearings, and investigations, and vigorously represent their interests before federal, state, and other industry regulatory bodies.
Our litigators have significant experience representing clients in litigation related to debt collection, including defending against individual and class action lawsuits alleging violations of the FDCPA, TCPA, and other consumer protection laws. Our work on compliance, counseling, and program development ensures a deep familiarity with all aspects of debt collection compliance, and informs our approach to litigation.
Our firm’s comprehensive legal tracking service is designed to help financial institutions stay current with regulatory and legislative changes in three key areas:
- Debt Collection
- Privacy + Data Security
- Consumer Reporting + FCRA Case Law
Delivered directly to your inbox, these trackers include an overview of the most important changes and analyses on the potential impact to your business. A subscription to one or more trackers includes a monthly one-hour call with our attorneys, who will provide additional insights and be available to answer your questions.
Please click here to learn more about and subscribe to this service.
