Lawsuits, regulatory penalties and imminent regulation: collections agencies are in crisis. Since the Consumer Financial Protection Bureau (CFPB) was created in 2010, collection practices have faced intense scrutiny. Enforcement actions at the Bureau have grown rapidly, from just eight in 2012 to 55 last year according to a recent review. [1] There has been almost $500 million in penalties and disgorgements, and over $11.2 billion in consumer relief over that period.
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