Prevention

  • UDAP (Unfair and Deceptive Acts and Practices)

  • UDAAP (Unfair, Deceptive and Abusive Acts and Practices)

  • FDIC (Federal Deposit Insurance Corporation)

  • CFPB (Consumer Financial Protection Bureau)
  • Dodd-Frank Consumer Protection Act (DFA)

Federal Trade Commission Act (FTC Act)

Credit Practices Rule

term definition
Confession of judgement A consumer waives the right to notice and an opportunity to be heard in event of a lawsuit.
Waiver of exemption A consumer waives the benefit of any laws that protect the consumer’s real or personal property from seizure or sale to satisfy a debt.
- Assignment of wages Is prohibited except if revoked by debtor, a preauthorized payment plan, applies to wages or earnings.
- Security interests in household goods Creates a security interest in household goods if the debt is not incurred to purchase the goods.
- Pyramiding late charges Prohibits a delinquency charge on a full payment made in a timely manner if attributable to charge assessed on earlier installment.

Fair Debt Collection Practices Act

prohibits unfair, deceptive, and abusive practices related to the collection of consumer debts.