Debt Collection Agencies Accused of Aggressive Tactics – Regulation Looms

Posted by Joachim Bartels | Feb 20, 2012 | BIIA News, Debt Collection and Recovery, Regulatory News, United States | 0 |

Consumer Financial Protection Bureau (CFPB) plans to initiate federal supervision for collection agencies after receiving a massive number of complaints about their practices. About 175 debt collection agencies that hold more than $10 million in annual collection receipts each, and account for more than 63 percent of the industry, would be subject to government oversight.

Source: Globalbankingrates.com

About The Author

Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.