ACA International’s collection of courses on Implementing the Collection Rule from the Consumer Financial Protection Bureau, Reg F, was released online in June to guide members through everything from disclosures to messages with limited content before the compliance date.
The Reg F compliance date has now been officially announced as November 30, 2021, although the CFPB had previously proposed moving it to January 29, 2022 to give supervised entities more time to implement the requirements.
On July 30, the CFPB announced that the extension was unnecessary and that public comments generally did not support the extension, ACA previously reported. The CFPB will consider additional guidance for debt collection agencies, including those servicing mortgage loans, as needed.
The ACA’s comments to the CFPB on the proposed delay are available here.
In response to the final compliance date, ACA knows that its members have been working on updating their policies and procedures and is here to help with its ACA How course series.
Reg F marks the biggest change for the Accounts Receivable Industry since the introduction of the Fair Collections Practices Act. The series – introduced by ACA Corporate Counsel Colin Winkler – covers every part of Reg F that requires organizational change, including how those changes will be implemented and who needs to be involved. Each section is broken down into short videos presented by industry leaders and includes a fact sheet in support of the course theme.
Last month, the ACA added two new educational modules to guide members through communication regarding eligible reporting and state laws.
Chad Echols, Partner at Echols Firm LLC, will introduce the new Pre-Credit Communication Module, which covers pre-credit reporting and policy change procedures.
Relation to State Laws, presented by Stefanie Jackman, Partner at Ballard Spahr, LLP, covers everything you need to know about Reg F in relation to state laws and regulations.
Members have access to 15 hours of education taught by industry leading professionals, all broken down into 3 to 5 minute easy-to-navigate tutorials.
ACA’s up-to-date informational video guides you through the ACA How online website and guides you through the account setup process, navigating modules and tracking your progress.
Additional modules include:
- Prohibited communication media, presented by June Coleman, Of Counsel at Messer Strickler Ltd., Jacksonville, Florida.
- Social Media Communications, presented by Nicole Strickler, President of Messer Strickler Ltd., in Jacksonville, Florida.
- Time-Barred Debts presented by David Schultz, Partner at Hinshaw & Culbertson LLP, in Chicago Harassment, Oppression or Abuse presented by Tim Collins, Chief Customer Officer at InDebted Australia Pty. Ltd.
- Limited content news presented by Loraine Lyons, partner at Malone Frost Martin PLLC, in Cedar Falls Iowa.
- Employer-supplied email presented by Dennis Barton, owner and executive attorney at The Barton Law Group LLC in Chesterfield, Missouri.
If your company has multiple people attending ACA’s webinars, consider investing in the All-Access Training Zone, which includes ACA bundled training at one low cost. Existing All-Access Training Zone subscribers automatically have access to ACA How: Regulation F Implementation.
To begin your Reg F education, visit https://acahowregf.acainternational.org/ and access our new modules.
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