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Saturday, October 19, 2019

FTC, CFPB report to Congress on efforts to halt illegal debt collection schemes

By Mark Iandolo | Mar 28, 2018

WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) announced March 20 that they have released a report detailing their 2017 activities to protect consumers from illegal debt collection schemes.

“I appreciate the opportunity to work with acting chairman Maureen Ohlhausen and all our partners at the FTC,” bureau acting director Mick Mulvaney said in a statement. “From now on, we will be working closely with the FTC to enforce the FDCPA while protecting the legal rights of all in a manner that is efficient, effective, and accountable.”

The report, delivered annually to Congress, examines both agencies' efforts to halt illegal debt collection schemes. The two agencies utilize a variety of tactics in pursuing these schemes, including law enforcement, education and public outreach and policy initiatives.

“The FTC will remain vigilant in our efforts to monitor this industry and stop unlawful conduct that harms both consumers and legitimate businesses and will continue to work with our law enforcement partners, including the CFPB, on this important issue,” Ohlhausen said in a statement.

The FTC voted 2-0 to approve its letter to the CFPB.

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Organizations in this Story

Consumer Financial Protection Bureau U.S. Federal Trade Commission