What is The CFPB?

The CFPB is the Consumer Financial Protection Bureau and is a government agency whose mission is to “make markets for consumer financial products and services work for Americans.” The CFPB is now involved in the debt collection industry, monitoring consumer feedback and complaints, and any collection agency conducting business in this country needs to be aware of the bureau and their standards.

Like many laws and agencies that are formed, the future is a bit unclear and their role in the collection industry and the collections and receivables of any debt in general is still vague. What we can tell you is that we are keeping an eye on this and will update as often as […]