July 10, 2013
U.S. Vows to Battle Abusive Debt Collectors – NYTimes.com
U.S. Vows to Battle Abusive Debt Collectors – NYTimes.com.
It’s about time for regulators to take more notice of these issues. Many debt collectors, and first party lenders, have engaged in fraudulent and abusive practices with little to no oversight or accountability. I am skeptical about what impact the Federal Trade Commission and other regulators will have in the short term, given just how much capital is at stake. There is so much money to be made by disregarding consumer rights, and that is only when consumers have such rights.
There is so much work to be done to address abusive practices that I can only read this article with the hope that it is good place to begin.