Today, a sweeping amendment to the Fair Debt Collections Act (FDCPA) was introduced into the senate as a bill by Senator Sherrod Brown (D) OH, that creates a moratorium on all collections and repossession activity during a major national disaster or emergency. The bill was just introduced to the floor and no known date for this going to vote is yet set. If set in motion, all debt collections activity and repossession would grind to a virtual halt.
More Stories
He Bought Their Identities. Then He Bought the Cars
Catch Me If You Can: Inside the Gingerbread Man Auto-Fraud Enterprise
Same FICO, Different Risk: Geography Emerges in Auto Loan Delinquencies
All Loan and No Cattle
Regulators Clarify What Credit Unions Can Tell Members About Suspicious Activity
$3.3 Million for Credit Union CEO Luxury and Only $1.7 Million for 33 Employees