CFPB tackles debt collection head-on

07/14/2013 | AmericanBanker.com (free registration)

The Consumer Financial Protection Bureau is turning up the heat regarding debt collection, meaning banks must be scrupulous in ensuring partners are following the rules, experts say. "You can't ignore this. It's a freight train," said Paul Joseph, director of business development at debt collector McCarthy, Burgess & Wolff. "I have no doubt they're going to eventually come after everything" concerning consumer debt.

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