CFPB Issues Bulletin Warning About Risk of In-Person Collections

Yesterday, in conjunction with the Consumer Financial Protection Bureau (CFPB) announcement regarding the action against EZCORP, Inc., the Bureau issued a bulletin warning the financial services industry, and in particular lenders and debt collectors, about potentially unlawful conduct during in-person collections. (Editor’s note: See companion story for complete details on the CFPB action against EZCORP.)

The Bulletin can be found here.

In the bulletin the CFPB warns lenders and debt collectors risk engaging in unfair or deceptive acts and practices that violate the Dodd-Frank Act and the Fair Debt Collection Practices Act when going to consumers’ homes and workplaces to collect debt. 

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