President Obama took a decisive step towards getting the Consumer Financial Protection Bureau up and running today. At 1:05 ET in a nationally televised announcement, he appointed former Ohio attorney general Richard Cordray as head of the newly formed agency.
“We are going to stand up this bureau and ensure it is doing the right thing for middle class families all across the country,” the president said.
As the CFPB will be a one stop shop for all financial concerns, an essential part of “the right thing…” will certainly be to clean up a collection industry in dire need of reform. As these reforms begin to take shape, it will become increasingly harder for the biggest players on the street to make money due to the fact that their business models are based on barbaric collection practices which will no longer be acceptable.
Our affiliation with key players in the credit card collections industry who will be instrumental in bringing about change allows us to offer individual investors a once in a lifetime opportunity to do a whole lot of good and make a whole lot of money in the process.
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