“I think no matter what direction you look at it from, debt collection in the United States is just broken. Because it takes consumers who want to pay, who could pay and turns them into customers that can’t,” noted TrueAccord CEO and Co-Founder Ohad Samet.
As an innovator looking to fix the broken system by using data as a substitute for “draconian collection methods,” Samet’s position on this issue is expected.
But it’s a position he shares with an unexpected regulatory source: CFPB Acting Director Mick Mulvaney.
Read more in this link from PYMNTS.