Debt collectors need the CFPB’s kick in the pants

By on June 2nd, 2015 in Compliance

“Debt sales are broken. Brokers, buyers and sellers offer books of debt that may be double- or triple-sold, lack documentation, or even be illegally originated.

Some tertiary and junk debt buyers, also known as shifty “paper boys,” are guilty of these violations. But leading financial institutions are also implicated in the Consumer Financial Protection Bureau’s recent reports on debt sales and collection.”

This is how our opinion piece on American Banker starts. Interested? Read more here.