Trump administration wants to allow debt collectors to call 7 times a week and text, email as much a

[Eugene]

Source: Washington Post

Trump administration wants to allow debt collectors to call 7 times a week and text, email as much as they want

Consumer advocates say the proposal appears designed to shield debt collectors from lawsuits rather than help consumers

By Renae Merle May 7 at 3:15 PM

-snip-

For decades, debt collectors have relied on a limited set of communication tools: landlines and the U.S. mail. Now they are finding increasingly personal ways to reach the millions of Americans regulators say have been contacted by debt collectors. Some debt collectors worry that these contacts fall into a legal gray area because the Fair Debt Collection Practices Act was written 40 years ago and doesn’t directly address digital communications.

The Consumer Financial Protection Bureau on Tuesday proposed rules that would give the industry the go-ahead to send consumers unlimited amounts of texts and emails, accelerating a trend the watchdog bureau says could be beneficial for everyone.

The proposal is a victory for debt collectors such as San Francisco-based TrueAccord. Instead of making a barrage of phone calls, TrueAccord sends out millions of emails and texts every month. Next, it hopes to contact delinquent consumers through chat programs such as WhatsApp.

“When you have a good online digital presence, you don’t need to make those calls,” said Ohad Samet, the company’s co-founder and chief executive. “The only question here is why hasn’t everyone else moved to digital-first models yet.”

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Read more: https://www.washingtonpost.com/business/2019/05/07/trump-administration-wants-allow-debt-collectors-call-times-week-text-email-much-they-want/

[C_U_L8R]

1. Give them Donald Trump's phone number

Apparently there's a mountain of debt that needs collecting.

[badhair77]

2. Excellent