Can FDCPA Laws Fight Business Debts

Can FDCPA Laws Fight Business Debts

No, FDCPA laws are for consumer/personal debts only. FCRA is generally limited to consumer credit transactions, but it can apply in some instances to commercial credit when involving a consumer. But most importantly, “A national bank has no power to lend its credit to any person or corporation…” Bowen v. Needles Nat. Bank, 76 F. 176 (1896), certiorari denied in 20 S.Ct 1024, 176 US 682, 44 LED 637 which negates any credit lent because the credit came from the guarantor signing the request for a line of credit.

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