Regulating Debt Protection Products

Law360, New York (April 25, 2011, 5:36 PM EDT) -- The U.S. Government Accountability Office recently issued a report entitled "Consumer Costs for Debt Protection Products Can Be Substantial Relative to Benefits but Are Not a Focus of Regulatory Oversight," which analyzed the regulation of debt protection products.

The report stated that the "financial benefits to consumers may be limited" because "a relatively small proportion of the fees consumers pay … is returned to them in tangible financial benefits." In addition, the report concluded that these products can be difficult for consumers to assess. The GAO...
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