Debt collection news
Via Dealbook:
CONSUMER AGENCY PROPOSES NEW RULES FOR DEBT COLLECTORS
There will be some respite for people being hounded for debt as federal regulators are preparing to significantly strengthen the rules that govern debt collection for the first time in nearly 40 years.
Under proposed regulations, debt collection companies will have to provide fuller documentation of the debt they are trying to collect. They must also make it clear how a consumer can dispute the debt and observe state statutes of limitations that bar them from legally pursuing older debts…
And now if maybe the Dems would, y’know, mention this on the campaign trail, these regulations would have a much better chance of not being revoked next year.
I don’t think I’ll hold my breath on that, though.
40 years!
That it took this long was doubtlessly due to the combined efforts of both parties. This reminded me of recent news about the DNC Cheater now embraced by Hillary.
http://www.salon.com/2016/03/01/dnc_chair_debbie_wasserman_schultz_joins_hands_with_gop_in_assault_on_elizabeth_warrens_consumer_protection_agency/
Zachary, this quote covers the present two party system.
“What does being a Republican have to do with untrustworthiness? At least Republicans are somewhat honest about wanting to screw everyone. Democrats on the other hand tend to be duplicitous, sanctimonious rats who always try to pretend that they’re the good guys who are out to help people–while they’re screwing everyone over. I wouldn’t trust anyone who’s been roped into either party.”
What we have to remember is all the work Senator Warren did to create this agency while working in the Obama Administration. The democrat administration were so pleased with Warrens efforts, Warren resigned.