CFPB Report Highlights “Risky” Debt Collection Practices

A new report offers insight into the bureau’s supervision and enforcement of several nonbank industries, including debt collection. According to the CFPB, consumers are receiving more than $70 million in remediation payments as a result of the bureau’s examinations. The Consumer Financial Protection Bureau has issued a report highlighting illegal actions uncovered by the bureau’s supervision of the debt collection, consumer reporting and payday lending markets. <more>