20 February 2012
CFPB Proposes Supervision of Larger Debt Collectors and Credit Bureaus
Posted by admin under: Debt Relief Programs; Mortgage Refinancing/Assistance; No Credit Check Unemployed Personal Student Loans; No Faxing Payday Loan; Online Personal Cash Loan; Payday Loan; Same Day Cash; Unemployed No Checking Account; Unemployed No Checking Account Need Cash; cash advance; need cash .
The Consumer Financial Protection Bureau has proposed a rule that would allow the agency to supervise large debt collectors and consumer reporting agencies, aka credit bureaus.
The CFPB is a new consumer watchdog agency that was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. As part of its nonbank supervision program, the agency supervises mortgage companies, payday lenders, and private student loan companies. CPFB also takes complaints on credit card issuers. If the new regulation is passed, the CFPB would supervise the largest debt collectors and credit bureaus.
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