News & Press: Consumer Debt

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

Tuesday, November 5, 2013   (0 Comments)

The government is preparing restrictions on debt collectors, a loosely regulated industry under increasing scrutiny over complaints of abusive tactics.

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.

Click here to read the full article at The Washington Post.