Waters Applauds CFPB's Initiative in Investigating Consumer Harassment
Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following a report published by the Consumer Financial Protection Bureau (CFPB/Bureau), demonstrating that over one-in-four consumers contacted by debt collectors felt threatened. This report is a result of the first-ever national survey of consumer experiences with debt collectors:
“All Americans deserve a financial system that punishes predatory conduct, regardless of whether that conduct involves bad information, harassing contact, or inconvenient phone calls. I applaud the CFPB for engaging in this important research. More importantly, I encourage the Bureau to create a strong debt collection rule that closes existing loopholes in the law and strengthens their initial proposal.