Restraints Sought On Third-party Debt Collectors

NEW YORK — Consumers could no longer receive multiple calls per day from debt collectors and would have more ability to dispute their bills under proposals released Thursday to overhaul the multibillion-dollar debt-collection industry. The new rules from the Consumer Financial Protection Bureau would also require collectors to have more documentation to prove a debt is owed, and initiate a 30-day waiting period for loans tied to someone who has recently died – halting all collection attempts from a spouse or child during that time. Regulators estimate roughly 70 million Americans are contacted by debt collectors each year, and more Americans submit complaints to state and federal agencies about unfair or deceptive practices than any other part of the consumer financial system.

Sections:  u.s.   
Topics:  Maine   Cumberland County   Portland   
BING NEWS:
  • The Big Read: Burdened with family expectations and lured by temptations, some foreign domestic workers get snared in debt trap
    Two freak accidents involving her brother and nephew in Manila late last year turned a Filipino domestic helper’s life upside down. The 45-year-old, who has worked in Singapore since 1999, had to find ...
    03/29/2024 - 2:30 am | View Link
  • Walgreens Boots Alliance Earnings Transcript (NASDAQ:WBA)
    Presentation Operator Good day and thank you for standing by. Welcome to the Walgreens Boots Alliance Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only ...
    03/28/2024 - 2:30 am | View Link
  • Former U.S. Sen. Joe Lieberman, Democrats' VP pick in 2000, dead at 82
    Former U.S. Sen. Joe Lieberman of Connecticut, who nearly won the vice presidency on the Democratic ticket with Al Gore in the disputed 2000 election and who almost became Republican John McCain's ...
    03/27/2024 - 11:09 am | View Link
  • W. P. Carey: Two Roads To Riches For A Beaten Down REIT
    W. P. Carey has the most conservative AFFO multiple following a series of controversial changes from management. Explore more details here.
    03/26/2024 - 2:36 am | View Link
  • The companies the Easter Bunny should deliver to your portfolio (and which to avoid)
    The only listed trust on the carob list, HomeCo Daily Needs REIT invests in retail, health and services assets – think renting to consumer staples businesses like Woolworths rather than to ...
    03/25/2024 - 3:11 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More U.s. News