Today, the Consumer Financial Protection Bureau announced that it would finally start taking a good, hard look at the debt collection industry. It’s about time. Few industries need the attention more.
The CFPB also released 3 resources (all in PDF format):
- A fact sheet on its move to take on debt collection oversight
- A copy of the rule by which it assumed oversight
- The procedures it will use when examining debt collectors
Read Consumer Financial Protection Bureau to oversee debt collectors from the CFPB.