HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Weekend Economists Out on... » Reply #5
Introducing Discussionist: A new forum by the creators of DU

Response to Demeter (Original post)

Fri Nov 15, 2013, 08:17 PM

5. Debt collectors face new rules under proposal from Consumer Financial Protection Bureau

http://www.washingtonpost.com/business/economy/cfpb-proposes-new-rule-to-govern-debt-collectors/2013/11/05/ef920b86-462a-11e3-bf0c-cebf37c6f484_story.html?wpisrc=nl_headlines

...On Wednesday, the Consumer Financial Protection Bureau is slated to issue a notice of proposed rulemaking to modernize the legal framework governing debt collection. The government watchdog is seeking public and business comment before formally proposing the rules, which are expected to be finalized by next year. The bureau is asking Americans whether creditors and collection agencies are providing accurate information about their outstanding debts. It also wants to know whether people are receiving threatening calls at all hours of the night or being dragged into court for money they do not owe.

“Collection of consumer debts serves an important role in the proper functioning of consumer credit markets,” CFPB Director Richard Cordray said Tuesday on a call with reporters. “But certain debt collection practices have long been a source of frustration for many consumers.”

Cordray noted that since the bureau began accepting debt collection complaints in July, it has received about 5,000 consumer grievances. The most-common complaints involve harassing phone calls, lack of verification of the debt and people becoming aware of a collection account only through their credit report...

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 66 replies Author Time Post
Demeter Nov 2013 OP
Demeter Nov 2013 #1
Demeter Nov 2013 #2
Demeter Nov 2013 #3
Warpy Nov 2013 #4
Demeter Nov 2013 #7
Fuddnik Nov 2013 #9
Tansy_Gold Nov 2013 #11
DemReadingDU Nov 2013 #10
Ghost Dog Nov 2013 #12
westerebus Nov 2013 #14
DemReadingDU Nov 2013 #16
Tansy_Gold Nov 2013 #27
DemReadingDU Nov 2013 #30
xchrom Nov 2013 #31
Demeter Nov 2013 #33
xchrom Nov 2013 #34
Demeter Nov 2013 #36
Tansy_Gold Nov 2013 #42
Ghost Dog Nov 2013 #49
Ghost Dog Nov 2013 #48
westerebus Nov 2013 #50
LineReply Debt collectors face new rules under proposal from Consumer Financial Protection Bureau
Demeter Nov 2013 #5
Demeter Nov 2013 #6
Demeter Nov 2013 #8
Ghost Dog Nov 2013 #13
Ghost Dog Nov 2013 #47
xchrom Nov 2013 #15
Demeter Nov 2013 #35
xchrom Nov 2013 #17
xchrom Nov 2013 #18
xchrom Nov 2013 #19
xchrom Nov 2013 #20
xchrom Nov 2013 #21
bread_and_roses Nov 2013 #22
xchrom Nov 2013 #23
Demeter Nov 2013 #25
Ghost Dog Nov 2013 #41
Demeter Nov 2013 #62
Ghost Dog Nov 2013 #66
xchrom Nov 2013 #24
xchrom Nov 2013 #26
Demeter Nov 2013 #28
xchrom Nov 2013 #29
xchrom Nov 2013 #32
Demeter Nov 2013 #37
Demeter Nov 2013 #38
Demeter Nov 2013 #39
Demeter Nov 2013 #40
DemReadingDU Nov 2013 #43
Ghost Dog Nov 2013 #44
Demeter Nov 2013 #45
Demeter Nov 2013 #46
xchrom Nov 2013 #51
Demeter Nov 2013 #63
xchrom Nov 2013 #52
xchrom Nov 2013 #53
xchrom Nov 2013 #54
xchrom Nov 2013 #55
xchrom Nov 2013 #56
xchrom Nov 2013 #57
xchrom Nov 2013 #58
xchrom Nov 2013 #59
hamerfan Nov 2013 #60
bread_and_roses Nov 2013 #61
Demeter Nov 2013 #64
Ghost Dog Nov 2013 #65
Please login to view edit histories.