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Released: October 24, 2012
CFPB issues rules for debt collectors
Source: Danielle Douglas, Washington Post (Free Registration)
The Consumer Financial Protection Bureau on Tuesday unveiled new rules for supervising large debt-collection firms, marking the first time that industry will be subject to federal oversight. Starting Jan. 2, examiners at the bureau will begin assessing whether debt collectors are complying with requirements of federal consumer financial law, including providing consumers with disclosures and accurate information. They will also investigate whether debt collectors have harassed or deceived consumers in the pursuit of payment.Read Full Article: CFPB issues rules for debt collectors
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