By: Adam B. Brandon

In addition to ensuring compliance with the federal Fair Debt Collection Practices Act (FDCPA), lenders should take precautions to limit its exposure to claims under the Florida Consumer Collection Practices Act (FCCPA). For example, lenders should:

  • Ensure that loan accounting systems accurately track the terms of loan modifications, forbearance agreements, and other loan documents at the time those documents are executed.
  • Establish written policies and procedures to reduce errors and to verify the accuracy of accounting systems. Loan officers should ensure that the policies and procedures are routinely followed by all employees at all levels of a lender’s operations.
  • Periodically review the terms of loan documents to ensure that they are fully reflected in accounting systems.