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Regulation F, a 1,000+ page set of federal rules aimed at protecting consumer rights related to unpaid debt, has sent a tsunami through the collections industry. Meeting the exacting requirements, especially when it comes to consumer communications such as the validation notice, is taking a Herculean effort.
While the most comprehensive, Reg F is only the latest in an onslaught of new laws, regulations and restrictions for the credit and collections industry. Accounts receivable management companies face massive change in how they are allowed to communicate with consumers and how quickly they must react to the regulatory environment. This whitepaper addresses what you can do to gain control as compliance and communication requirements intensify.