,,ii #aaf? ,,congress #a/ ,session ,s4 #beaf ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,septemb] #ai1 #bjai,mr4 ,book] 7= himself & ,mr4 ,lee7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to am5d ! ,fair ,debt ,collection ,practices ,act to re/rict ! debt collection practices ( c]ta9 debt collectors4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,/op ,debt ,collection ,abuse ,act ( #bjai4 #b4 ,def9itions ,section #hjc ( ! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib;a7 is am5d$-- 7#a7 9 p>agraph 7#d71 by /rik+ facilitat+ collection ( su* debt = ano!r & ins]t+ collection ( su* debt2 7#b7 by /rik+ p>agraphs 7#e7 & 7#f7 & ins]t+ ! foll[+3 7#e7 ,! t]m debt means-- 7,a7 any obligation or alleg$ obligation ( a consum] to pay money aris+ out ( a transaction 9 :i* ! money1 prop]ty1 insurance1 or s]vices t are ! subject ( ! transaction are prim>ily = p]sonal1 family1 or h\sehold purposes1 :e!r or n su* obligation has be5 r$uc$ to judgm5t2 or 7,b7 any obligation or alleg$ obligation ( a consum]-- 7i7 to pay a loan1 an ov]paym5t1 a f9e1 a p5alty1 a fee1 or o!r money to a ,f$]al ag5cy2 & 7ii7 t is n less ?an #ahj days pa/ due4 7#f7 ,! t]m debt collector-- 7,a7 means any p]son :o-- 7i7 uses any in/rum5tality ( int]/ate comm]ce or ! mails 9 any bus9ess ! pr9cipal purpose ( :i* is ! collection ( any debts2 7ii7 regul>ly collects or attempts to collect1 directly or indirectly1 by its own means or by hir+ ano!r debt collector1 debts ow$ or due or ass]t$ to be ow$ or due ano!r or t h be5 obta9$ by assignm5t or transf] f ano!r2 or 7iii7 regul>ly collects debts ow$ or alleg$ly ow$ to a ,f$]al ag5cy2 7,b7 includes-- 7i7 any cr$itor :o1 9 ! process ( collect+ ! debts ( ! cr$itor1 uses any "n o!r ?an ! "n ( ! cr$itor :i* w\ld indicate t a ?ird p]son is collect+ or attempt+ to collect su* debts2 & 7ii7 = purposes ( section #hjh7f71 any p]son :o uses any in/rum5tality ( int]/ate comm]ce or ! mails 9 any bus9ess ! pr9cipal purpose ( :i* is ! en=cem5t ( security int]e/s2 & 7,c7 does n include-- 7i7 any (fic] or employee ( a cr$itor :ile1 9 ! "n ( ! cr$itor1 collect+ debts = su* cr$itor2 7ii7 any p]son :ile act+ z a debt collector = ano!r p]son1 bo? ( :om are relat$ by common own]%ip or affiliat$ by corporate control1 if ! p]son act+ z a debt collector does s only = p]sons to :om x is s relat$ or affiliat$ & if ! pr9cipal bus9ess ( su* p]son is n ! collection ( debts2 7iii7 any (fic] or employee ( ! ,unit$ ,/ates or any ,/ate to ! ext5t t collect+ or attempt+ to collect any debt is 9 ! p]=mance ( 8 (ficial duties2 7iv7 any p]son :ile s]v+ or attempt+ to s]ve legal process on any o!r p]son 9 connection ) ! judicial en=cem5t ( any debt2 7v7 any nonpr(it organization :i*1 at ! reque/ ( consum]s1 p]=ms bona fide consum] cr$it c\nsel+ & assi/s consum]s 9 ! liquidation ( _! debts by receiv+ paym5ts f su* consum]s & di/ribut+ su* am\nts to cr$itors2 & 7vi7 any p]son collect+ or attempt+ to collect any debt ow$ or due or ass]t$ to be ow$ or due ano!r or t has be5 obta9$ by assignm5t or transf] f ano!r to ! ext5t su* activity-- 7,i7 is incid5tal to a bona fide fiduci>y obligation or a bona fide escr[ arrangem5t2 7,,ii7 conc]ns a debt :i* 0 orig9at$ by su* p]son2 7,,iii7 conc]ns a debt :i* 0 n 9 default at ! "t x 0 obta9$ by su* p]son2 or 7,,iv7 conc]ns a debt obta9$ by su* p]son z a secur$ p>ty 9 a comm]cial cr$it transaction involv+ ! cr$itor4 4 #c4 ,debt collection practices = debt collectors hir$ by gov]nm5t ag5cies ,! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib et seq47 is am5d$ by ins]t+ aft] section #hab 7#ae ,u4,s4,c4 #afib;j7 ! foll[+3 #hab;,a4 ,debt collection practices = debt collectors hir$ by ,f$]al ag5cies 7a7 ,limitation on "t ,to turn debt ov] to debt collector ,a ,f$]al ag5cy t is a cr$itor may sell or transf] a debt describ$ 9 section #hjc7e77;,b7 to a debt collector n e>li] ?an #ij days aft] ! date on :i* ! obligation or alleg$ obligation arises4 7b7 ,requir$ notice 7#a7 ,9 g5]al ,be=e transf]r+ or sell+ a debt describ$ 9 section #hjc7e77;,b7 to a debt collector or contract+ ) a debt collector to collect su* a debt1 a ,f$]al ag5cy %all notify ! consum] n few] ?an #c times t ! ,f$]al ag5cy w take su* action4 7#b7 ,frequ5cy ( notifications ,! second & ?ird notifications describ$ 9 p>agraph 7#a7 %all be made n less ?an #cj days aft] ! date on :i* ! previ\s notification is made4 4 #d4 ,unfair practices ,section #hjh ( ! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib;f7 is am5d$ by /rik+ p>agraph 7#a7 & ins]t+ ! foll[+3 7#a7 ,! collection ( any am\nt 7includ+ any int]e/1 fee1 *>ge1 or exp5se incid5tal to ! pr9cipal obligation7 unless-- 7,a7 su* am\nt is expressly au?oriz$ by ! agreem5t creat+ ! debt or p]mitt$ by law2 or 7,b7 9 ! case ( any am\nt *>g$ by a debt collector collect+ a debt = a ,f$]al ag5cy1 su* am\nt is-- 7i7 reasonable 9 relation to ! actual co/s ( ! collection2 7ii7 au?oriz$ by a contract betwe5 ! debt collector & ! ,f$]al ag5cy2 & 7iii7 n great] ?an #aj p]c5t ( ! am\nt collect$ by ! debt collector4 4 #e4 ,,gao /udy & report 7a7 ,/udy ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all conduct a /udy on ! use ( debt collectors by ,f$]al1 ,/ate1 & local gov]nm5t ag5cies1 includ+-- 7#a7 ! p[]s giv5 to ! debt collectors by ,f$]al1 ,/ate1 & local gov]nm5t ag5cies2 7#b7 ! contract+ process t all[s a ,f$]al1 ,/ate1 or local gov]nm5t ag5cy to aw>d debt collection to a c]ta9 company1 includ+ ! selection process2 7#c7 any fees *>g$ to debtors 9 addition to pr9cipal & int]e/ on ! out/&+ debt2 7#d7 h[ ! fees describ$ 9 p>agraph 7#c7 v>y f ,/ate to ,/ate2 7#e7 consum] protection at ! ,/ate level t (f] rec\rse to ^? :om debts h be5 wrongfully attribut$2 7#f7 ! rev5ues receiv$ by debt collectors f ,f$]al1 ,/ate1 & local gov]nm5t ag5cies2 7#g7 ! am\nt ( any rev5ue %>+ agreem5ts betwe5 debt collectors & ,f$]al1 ,/ate1 & local gov]nm5t ag5cies2 7#h7 ! diff]5ce 9 debt collection proc$ures across geographic regions1 includ+ ! ext5t to :i* debt collectors pursue c\rt judgm5ts to collect debts2 & 7#i7 any legal immunity or o!r protections giv5 to ! debt collectors hir$ by ,/ate & local gov]nm5t ag5cies1 includ+ :e!r ! debt collectors are subject to ! ,fair ,debt ,collection ,practices ,act 7#ae ,u4,s4,c4 #afib et seq474 7b7 ,report ,n lat] ?an #a ye> aft] ! date ( enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ,congress a report on ! complet$ /udy requir$ "u subsection 7a74