UDAAP Violations & Frank-Dodd for Collection Agencies
National Service Bureau
JUNE 4, 2015
If you are considering hiring a collection agency (or your business has a collections department), it’s imperative to be aware of the various regulatory guidelines and laws regarding consumer protection and debt collection. One of the most important pieces of legislation is the Frank-Dodd Wall Street Reform and Consumer Protection Act. This law spells out prohibited practices known as UDAAP (for unfair, deceptive, or abusive acts and practices), among other things.
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