Banking & Credit

Public Interest Groups Urge CFPB to Protect Consumers from Abusive Debt Collection Practices

In a letter to Consumer Financial Protection Bureau Director Kathleen Kraninger, CFA and other public interest groups urge the CFPB to focus on protecting consumers from abusive debt collection practices in any debt collection rule that it issues. In the five years since the proposed rulemaking on debt collection, many of the groups have submitted comments regarding debt collection, including responses to the November 2013 Advanced Notice of Proposed Rulemaking and more recently to the Request for Information on the Consumer Bureau’s Adopted Regulations in June 2018. This letter reiterates concerns about widespread debt collection abuses and the ongoing need for better protection against these abuses.

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