Home | About | Donate

Urging the CFPB to End Abusive Debt Collection Tactics


#1

Urging the CFPB to End Abusive Debt Collection Tactics

People's Action Institute

A statement on today’s release of the Consumer Financial Protection Bureau’s preview of its regulation of the debt collection industry.

From LeeAnn Hall, co-executive director of People’s Action Institute:

“We’re encouraged to see the Consumer Financial Protection Bureau take steps to end aggressive and abusive debt collection practices and protect consumers from the often illegal activities of debt collectors.


#2

Certainly they should, but "an airtight rule with stiff penalties for failure to comply" is much easier said than done, especially with the lobbying against any regulation. The good news is that the CFPB is already making a difference, if only one complaint at a time. I have benefitted from their intervention.