It Just Got Harder for Debt Collection Agencies to Auto-Sue Borrowers
This is a time.com article.
Consumer Financial Protection Bureau takes action.
The federal Consumer Financial Protection Bureau (CFPB) fired a shot across the bows of debt collection agencies on Monday, ordering two firms to stop an illegal collection operation that used an automated lawsuit generator.
According to the CFPB, a law firm and a debt buyer—Pressler & Pressler, LLP, and New Century Financial Services, Inc., respectively—have been battering people with lawsuit after lawsuit, mass-produced cookie-cutter affairs often based on “flimsy or nonexistent evidence.”
PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”