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Debt collection examination procedures

Updated Oct. 24, 2012

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These examination procedures apply to larger participants in the consumer debt collection market defined by 12 CFR 1090.105 and other entities within the supervisory authority of the Consumer Financial Protection Bureau (CFPB) to the extent that they seek to collect debt from consumers. 

The procedures contain a series of modules, grouping similar requirements together. Prior to using these procedures, however, examiners should complete a risk assessment and scope memorandum. Depending on the scope, and in conjunction with the compliance management system review procedures, each examination will cover one or more of the following modules: 

  1. Entity Business Model 
  2. Communications in Connection with Debt Collection
  3. Information Sharing, Privacy, and Interactions With Consumer Reporting Agencies
  4. Consumer Complaints, Dispute Resolution, and Debt Validation
  5. Payment Processing and Account Maintenance
  6. Equal Credit Opportunity Act
  7. Litigation Practices, Repossession, and Time-Barred Debt