CFPB Clarifies Legality Of Debt Collector Pay-To-Pay Fees
Collection Industry News
JULY 4, 2022
In short, the press release associated with this advisory opinion quotes CFPB Director Rohit Chopra as clarifying his view that “Federal law generally forbids debt collectors from imposing extra fees not authorized by the original loan,” and that “these fees are often illegal.” SAC 14-0771-DOC, 2015 WL 4254032, at 10 (C.D.
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