Debt collectors & the CFPA
January 11, 2010 | alternatives, federal legislation, industry | Comments (0)An interesting interview in the Minneapolis Star Tribune:
Q How would the Consumer Financial Protection Agency affect your industry?
A It has the potential to be devastating. Our members are very, very concerned about a federal regulator that is basically designed to regulate financial institutions and yet inadvertently extends to the collection industry. Our members believe we are service providers. We are not lenders. We are not part of the economic problem we are experiencing today.
Yea, we know what you mean.
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