The Consumer Financial Protection Bureau (CFPB) is considering new regulations for the U.S. debt collection industry, Reuters reported on November 6.
Federal investigators are in the process of determining whether or not there are privacy violations occurring during the course of debt collection. Reuters indicated that the CFPB could draft rules governing how collectors can contact or gathering information on delinquent borrowers.
To learn more about the CFPB’s potential crackdown on debt collectors, read the full report here.
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