On July 10, 2013, the Consumer Financial Protection Bureau (CFPB) issued two Bulletins that address debt collection practices. The first Bulletin, CFPB Bulletin 2013-07, discusses acts or practices that could potentially constitute an unfair, deceptive or abusive act or practice (UDAAP) in violation of the UDAAP provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). The second Bulletin, CFPB Bulletin 2013-08, addresses representations regarding the effect that debt payments may have on a consumer’s credit report, credit score or creditworthiness and sets forth the CFPB’s supervisory expectations on these issues.

The Bulletins were accompanied by a set of form letters intended for consumers to use when communicating with debt collectors, and they also coincide with a field hearing in Maine on debt collection that marks the CFPB’s acceptance of debt collection complaints through its consumer response system. This alert focuses on the two Bulletins.