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Debt Collection Industry Transparency Act (Draft Bill)

Debt Collection Industry Transparency Act (Draft Bill)

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Published by D.D.
The Debt Collection Industry Transparency Act (DCITA) mandates increased regulation and penalties for rogue debt collectors who illegally collect money from cash-strapped consumers afraid of losing their jobs or homes or wrecking their credit scores.

This is not an attempt to prevent legitimate debt collectors and creditors from collecting funds they are legally due.

The DCITA draft bill is currently being circulated to Senators and Representatives around the country in hopes that they will sponsor and champion the bill becoming law.
The Debt Collection Industry Transparency Act (DCITA) mandates increased regulation and penalties for rogue debt collectors who illegally collect money from cash-strapped consumers afraid of losing their jobs or homes or wrecking their credit scores.

This is not an attempt to prevent legitimate debt collectors and creditors from collecting funds they are legally due.

The DCITA draft bill is currently being circulated to Senators and Representatives around the country in hopes that they will sponsor and champion the bill becoming law.

More info:

Published by: D.D. on Jun 11, 2009
Copyright:Traditional Copyright: All rights reserved

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11/26/2014

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Author:D.D.Johnice1
DebtCollectionIndustryTransparencyAct(DCITA)of2009
BillSummary:
MandatesincreasedtransparencyandaccountabilityfordebtcollectionagenciesandagentsinordertobetterprotectU.S.consumersfromfraudulentanddishonestdebtcollectionpractices.Requiresdebtcollectionagenciesandtheiragentsbelicensedandregisteredinthestatesinwhichtheyoperate.Excludesconvictedfelonsfromservingasdebtcollectors.LimitsaccesstoconsumerinformationandincreasespenaltiesforviolatorsoftheFairDebtCollectionPracticesAct(FDCPA)andtheFairCreditReportingAct(FCRA).
 
Author:D.D.Johnice2
TABLEOFCONTENTS
Section1.Shorttitle

Section2.FindingsanddeclarationofpurposeSection3.DefinitionsSection4.ExclusionsSection5:LicensingRequirementsSection6.ValidationofdebtsSection7.Communicationinconnectionwithdebtcollection
Section8.Telephonerecordingdevices;audiofiles;fileretentionSection9.AccessingconsumeraccountsSection10.ReportinginformationtoconsumerreportingagenciesSection11.HarassmentorabuseSection12.CivilliabilitySection13.CriminalLiabilitySection14.ArbitrationSection15.RelationtoStatelawsSection16.Effectivedate.
 
Author:D.D.Johnice3
Section1.Shorttitle
Thistitlemaybecitedasthe“DebtCollectionIndustryTransparencyAct.”
Section2.Findingsanddeclarationofpurpose
(a)
 
In2008,theFederalTradeCommissionreceived104,661complaintsaboutabusive,deceptiveandunfairdebtcollectors,anincreaseofmorethan14%over2007.Themajorityofthecomplaintsciteddebtcollectorsharassingconsumersandattemptingtocollectlargerpaymentsthanpermittedbylaw.Underanyeconomicconditions,abusivedebtcollectionpracticescontributetopersonalbankruptcies,higherconsumercosts,joblossesandinvasionsofprivacy.But,duringarecessionaryperiod,thesepracticesareparticularlydestructive,leavingdebt‐ridden,credit‐starvedconsumersunabletorentapartments,buyhomesorsecureorretainjobs.(b)
 
TherecessionhasleftmillionsofAmericansunemployedandunabletopaydebts.TheseAmericansrepresentalucrativeopportunityforabusiveandunlawfuldebtcollectors.(c)
 
Penaltiesprescribedunderexistinglawareineffectualdeterrentstodebtcollectors’abusivepracticesasevidencedbyincreasedcomplaints.(d)
 
Existinglawsandproceduresforredressingtheseinjuriesareinadequatetoprotectconsumers.(e)
 
DebtcollectorsroutinelyskirttheprovisionsandrestrictionsoftheFDCPAandFCRA.(f)
 
Debtcollectionagenciesroutinelyemployconvictedfelonsandpersonsconvictedofmisdemeanorforgeryorfraudcharges.(g)
 
Itisthepurposeofthistitletoincreasethetransparencyofthedebtcollectionindustry,toincreaseconsumerprotections,toincreasetheeffectivenessofpenaltiesprescribedunderFDCPAandFCRA,toeliminateabusivedebtcollectionpracticesbydebtcollectorsandtoimproveStatesabilitytoprotectconsumersagainstsuchabuses.
Section3.Definitions
Asusedinthistitle—(1)
 
Theterm“CallerID”meansanydevice,softwareorservicethatprovidessubscribersthenameandtelephonenumberofacaller.(2)
 
Theterm“Commission”meanstheFederalTradeCommission(3)
 
Theterm“communication”meanstheconveyingofinformationregardingadebtdirectlyorindirectlytoanypersonthroughanymedium.(4)
 
Theterm“consumer”meansanynaturalpersonobligatedorallegedlyobligatedtopayanydebt.

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