Lying, Aggressive Debt Collection Agencies Targeted by New CFPB Rules
The Consumer Financial Protection Bureau (CFPB) is rolling out a set of rules designed to clampdown on aggressive and reckless debt collection agencies. Third party debt collectors would be barred from attempting to contact alleged delinquents more than six times per week, the bureau said. The initiative would also require collection agencies to verify that the person they’re contacting actually owes money to the entity that contracted their services in the first place. Rules would also place a 30-day waiting period after a person’s death,…