HOUSTON, TX – 9/16/2016 (PRESS RELEASE JET) — Recently the Consumer Financial Protection Bureau (CFPB) has recommended new regulation proposals. If approved, the changes would limit how collectors can contact individuals, enact rules to protect individuals fictitious debts, and lastly Increase compliance costs. CFPB proposed these new regulations with the idea that it will give more protection for small businesses and individuals. Many other debt collection agencies view these newly proposed regulations as a hinderance to the way they currently pursue and collect debts from individuals. The precedent has been set for these proposed changes by an earlier recommendation from the CFPB in where they recommended changes to payday lending.
Many in the debt collection business have raised concerns about how this will restrict their current business operations and moreover feel these new regulations will cause them to go out of business.
This is not a concern for Alexander, Miller & Associates because we specialize in large balance commercial collections in areas like Trucking, Transportation & Freight, rather than the individual debt holder. Furthermore, we are dedicated to the highest quality experience and results for our clients and payees, and we have fostered an established reputation for excellence. Please contact us at Alexander, Miller & Associates for more information.
For more details about these changes, continue reading at our blog: https://amafirm.com/blog/commerical-collections-news/new-2016-debt-collection-regulations/
Distributed by Press Release Jet
Company Name: Alexander Miller & Associates
Contact Person: Mike Miller
Phone: (832) 430-1651
Country: United States