CFPB moves to prohibit check by phone fees

Advisory opinion explains that most “pay-to-pay” fees charged by debt collectors violate federal law

Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone.

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CFPB moves to prohibit check by phone fees – CFPB – Consumer Financial Protection Bureau