Arizona PIRG Releases Report On Debt Collection Abuses CFPB Receives
The Consumer Financial Protection Bureau, or CFPB, has made headlines this year simply trying to justify its existence. In February, a U.S. appeals court in Washington staved off a decision that would’ve allowed the independent head of the agency, Richard Cordray, to report to — and therefore be fired by — President Trump.
Despite that victory, the agency hasn’t left the crosshairs of The Hill. Jeb Hensarling, chairman of House Financial Services committee, has called Cordray a “dictator” and introduced the “Financial Choice Act,” which would dismantle the agency along with Dodd-Frank, which authorized the agency’s existence from the beginning.
In the meantime, though, the 6-year-old agency, which promises to take action on unfair, deceptive and abusive acts or practices for consumers in the financial sector, forges ahead.
Now, Arizona PIRG Education Fund and the Frontier Group have released a new report, “Protecting Those Who Serve,” which reveals that the leading source of debt collection abuses the CFPB currently receives are from current military servicemembers and veterans.
Diane Brown, executive director of Arizona Public Interest Research Group, joins us now.