What must banks do under the Fair Debt Collection Practices Act (FDCPA)?

Under the Fair Debt Collection Practices Act (FDCPA), banks and debt collectors are required to follow specific guidelines on how to communicate with consumers about their debts. This act was established to protect consumers from abusive, deceptive, and unfair debt collection practices.

Following these guidelines includes ensuring that all communications are honest and straightforward, providing consumers with information about their rights, and respecting consumers' requests regarding communication preferences. Debt collectors cannot engage in harassing behavior or use misleading tactics to pressure consumers into paying debts.

The focus of the FDCPA is on fostering a fair and respectful interaction between debt collectors and consumers, which is why adherence to these communication protocols is fundamental.