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VA Dept. Grilled For Aggressive Collection Tactics

Speaking before a House Committee yesterday, the chief financial officer for the Department of Veterans Affairs vowed to continuing overhauling their systems and procedures to help improve collection efforts related to the overpayment of benefits. The department sent out 600,000 notices to veterans and their families during the 2018 fiscal …

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NY DFS Superintendent Blasts CFPB Over Proposed Rule

As someone who has reviewed most of the nearly 10,000 comments that have been submitted regarding the Consumer Financial Protection Bureau’s proposed debt collection rule, I can say with some degree of certainty that one regulator chastising another one is fairly uncommon. But that’s what the New York Department of …

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ACA International Submit 154-Page Comment About Proposed Rule

In what is likely the most comprehensive comment that will be submitted, ACA International laid out broad support for the Consumer Financial Protection Bureau’s proposed debt collection rule, but identified several changes that will “impose significant burdens” without “any quantitative evidence of consumer harm in those areas.” The 154-page comment …

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Article Shares ‘True Confessions’ From Collectors

Truth be told, anytime someone in the credit and collection industry sees a headline in a mainstream media outlet that declares: “True confessions: What it’s like to be a debt collector,” they likely cover their eyes as they scroll down the page and worry about anecdotes that portray collection agencies …

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