In the future, debt collectors might be allowed to text and email you. Columnist DavidLaz explains:
The new rules also may provide greater latitude for bothering consumers by phone and limit their ability to challenge financial obligations.
The question, Peterson told me, “is whether that’s something consumers want, particularly allowing them to contact us via text and email. My guess is no.”In a recent, it said about 81,500 complaints about debt collectors were lodged last year, “making debt collection one of the most prevalent topics of consumer complaints about financial products and services received by the bureau.”
Since Trump’s appointees took over, weekly restitution under the law has totaled $0, the federation says., CFPB Director Kathy Kraninger noted that the Fair Debt Collection Practices Act hasn’t been updated since 1977 — “the same year that Steve Jobs introduced the world to the idea of a personal computer with the design of the Apple II ... and cellphones were not even imaginable.”
Neeb said debt collectors merely wanted the law updated to reflect “modern methods of communication,” so that consumers are more comfortable attending to their finances. That might include texts and emails at the moment, he observed. “Five years from now, it could be something else.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New CBS Sports Network Deal With WNBA Latest Reminder Of New Revenue StreamsThe response to Monday's big announcement that CBS Sports Network will televise 40 WNBA games in 2019 and at least one year beyond was universally positive, as it should be.
Read more »
New York to investigate Facebook over harvesting email contactsFacebook disclosed last week that it may have “unintentionally uploaded” email contacts without users’ permission or knowledge beginning in May 2016.
Read more »
NY investigates Facebook over storage of 'unauthorized' email contactsFacebook said it may have 'unintentionally uploaded' email contacts of up to 1.5 million new users since May 2016, adding that the 'contacts were not shared with anyone and we are deleting them.'
Read more »
New York AG opens investigation into Facebook over email contact collectionThe New York State attorney general has opened an investigation into Facebook's unauthorized collection of 1.5 million users' email contacts
Read more »
New York investigating Facebook over storage of 'unauthorized' email contactsNew York Attorney General Letitia James said on Thursday she is investigating Fa...
Read more »
NYC measles outbreak worsens as infections near 400, including 2 pregnant womenAlmost 400 people in New York City have contracted measles since the outbreak began in October, according to new data from the New York City Health Department.
Read more »