Regulation F, 12 CFR part 1006 (“Regulation F”) refers to a specific set of regulatory requirements issued by the federal Consumer Financial Protection Board (CPFB) as required under the Fair Debt Collection Practice Act (FDCPA).
Who does this regulation apply to?
This regulation applies directly to debt collectors (i.e., collection agencies) and outlines information they must provide to consumers and actions that they must take before furnishing information about an individual’s debt to a consumer reporting agency (such as EQIFAX). While healthcare providers are not directly subject to the regulation, debt collection agencies may ask them to furnish additional financial information in order to meet their own compliance obligations.
For More Information
Visit the new Regulation F Hot Topic page to learn more about how this regulation could impact your practice and for resources to help your organization provide the additional financial information collection agencies need to meet this regulatory requirement.