Last week, the Consumer Financial Protection Bureau CFPB flexed their muscles and sent a very clear message to everyone who deals with consumer debt … straighten up and fly right!
The CFPB has opened their complaint database for consumer complaints about debt collectors and said very clearly they were going to use that information as the guide post for how to focus supervisory attention and seek penalties against those who cannot toe the line.
In this environment of heightened awareness of abusive behavior across the spectrum, banks should look for debt buyers and collection agencies who are different: who don’t litigate against consumers, who don’t collect debt so old it is past the statute of limitation, who don’t add interest to accounts and who go the extra step to actually help their customers find jobs and put their financial house in order.
Ropay Asset Investors is unique and already in line with the guidelines set forth by the Consumer Financial Protection Bureau . We always treat our customer/debtors with the dignity and respect they deserve and we never sue them.
Do Good and Make Money!