According to a recent article in the Los Angeles Times, retirees and others can expect more harassment from debt collectors.
David Lazarus writes, "The Consumer Financial Protection Bureau, under President Trump, already has moved to make life easier for payday lenders. It’s expected any day now to do the same for debt collectors.
The bureau will unveil proposed rule changes that are likely to include explicit permission for debt collectors to contact people via text and email and maybe social media.
The new rules also may provide greater latitude for bothering people by phone and limits on people’s ability to challenge financial obligations.
In other words, more rights for debt collectors and fewer rights for consumers".
Marc has 36 years in financial services and 6 years in teaching.
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