The CFPB's anticipated creation of rules governing first party or original creditor debt collection has not yet happened. Nevertheless, in 2013 the CFPB staked out its authority over unfair, deceptive or abusive acts or practices by "all covered persons", including original creditors in a 2013 Bulletin. I was able to find instances where the CFPB exercised its claimed UDAAP authority over debt collection practices of non-traditional lenders (retail store that sold on credit and auto dealer that financed sales) but I am unaware of CFPB UDAAP activity against lenders (that doesn't mean it hasn't happened) Pending any new rules from the CFPB governing original creditor collections, lenders should remain cognizant of their possible liability under the CFPB's UDAAP authority.
Massachusetts lenders should certainly be aware of CFPB actions in this area, but likely already have safeguards because the Massachusetts Attorney General's Fair Debt Collection Regulations already cover original creditors.
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