Industry Group Fires Back at CFPB’s Debt Collection Report

Association of credit and collection professionals finds the CFPB's report on debt collection complaints "seeks to justify the CFPB's existence, but falls short in looking at the underlying causes." Key points raised include CFPB's definition of complaint, consumer unwillingness to communicate with debt collectors, the Catch-22 of not leaving messages that could divulge the existence of consumer debt to others vs. calling back again and being criticized for call frequency. [3/21]