A bank’s acquisition of credit card debt on which a consumer already has defaulted does not subject the bank to federal rules on fair debt collection practices, a panel of the U.S. Court of Appeals for the Eleventh Circuit has decided.
The Federal Debt Collection Practices Act places certain requirements on “debt collectors.” Debt collectors are defined as those who “regularly” collect or attempt to collect debts owed to others or whose “principal” business purpose is debt collection. Creditors, on the other hand, are typically not subject to the statute’s rules.
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