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« Will the Democrats Reform the Filibuster to Permit Cordray Confirmation? | Main | More on Debt Collection: CFPB To Go After Banks' Collection Practices »

Wednesday, July 10, 2013

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Comments

michele

Debt collection has not changed since the 18th century when Debtors Prison was outlawed in the US. Collection agencies are not regulated and operate in a consumer economy driven by merchants which thrive on consumer debt and government mandates. Consumer rights are all but eradicated. Any penalty for abuses is likely considered no more than a cost of doing business; there is too much profit in debt collection to change practices that are next to impossible to prove.

Kevin

$3.2 Million? That's all? Why not make this $3.2 billion--only then will these companies stop. Unless, of course, they are Bank of America or Chase.

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