Debt collection is a big business in the U.S., a $10.9 billion industry that employs almost 120,000 workers who help track down overdue payments. Since the financial crisis, American consumers have taken on more debt, and some delinquencies, such as for auto loans, have been increasing. Against this backdrop is a CFPB that critics say has lost its appetite for going after financial abuses by corporations under Trump administration appointees who favor less regulation.

Fair Debt Collection Practices Act

Some consumer advocates say they worry updated rules for debt collectors may lead to an unwelcome flurry of texts, emails and calls to consumers who owe money……more here