CFPB Says Problems Persist In Debt Collection Industry

Law360, New York (March 20, 2014, 3:05 PM EDT) -- The Consumer Financial Protection Bureau on Thursday said that the U.S. debt collection industry continues to be plagued by aggressive and illegal collection tactics and inaccurate record-keeping, problems the federal watchdog said it will attempt to clean up.

In an annual report to Congress, the CFPB said that it had received more than 30,000 complaints about the debt collection industry since it began collecting such complaints in July, and that debt collection is the largest source of complaints the bureau collects from consumers each month. Overall,...
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