Consumer Reports Urges CFPB to Ban Collection of Time-barred Debt
August 05, 2020
August 05, 2020
YONKERS, New York, Aug. 5 -- Consumer Reports issued the following news release on Aug. 4:
A proposal by the Consumer Financial Protection Bureau requiring debt collectors to use a model disclosure notice for time-barred debt fails to protect consumers from unfair, deceptive and abusive collection practices, according to Consumer Reports. Instead, CR is calling on the CFPB in a letter today to prohibit debt collectors from going after debt once the statute of limitation has expired. . . .
A proposal by the Consumer Financial Protection Bureau requiring debt collectors to use a model disclosure notice for time-barred debt fails to protect consumers from unfair, deceptive and abusive collection practices, according to Consumer Reports. Instead, CR is calling on the CFPB in a letter today to prohibit debt collectors from going after debt once the statute of limitation has expired. . . .