October 14: Government will monitor debt collection agencies (NBC12 Online)
October 25, 2012
RICHMOND, VA (WWBT) - It's a problem facing 30 million Americans: the calls, the late notices, all because you're in debt. Now, new regulations will come in place to protect you and your rights.
Come January 2, 2013, the Consumer Financial Protection Bureau will be able to supervise large debt collection agencies.
"It kind of puts a leash on them," said Tom Arnold, Associate Professor at University of Richmond's Robins School of Business. "And it helps the consumer, particularly the ones ...