A few months after Minnesota Senator Al Franken convinced the FTC to look into the practice of debt collectors having arrest warrants issued for people with less than $100 in debt, the former SNL star announced that he will be introducing legislation to put an end to some of the collection industry’s more abusive practices.
According to reports, the End Debt Collector Abuse Act proposes the following:
â€¢ Prohibit debt collectors from seeking arrest warrants to collect on debts.
â€¢ Give consumers the information they need to protect themselves from unscrupulous debt collectors.
â€¢ Require debt collectors to conduct thorough investigations when consumers dispute the debt.
â€¢ Increase penalties on debt collectors who break the law to discourage them from employing bad practices.
â€¢ Allow judges to provide injunctive relief to consumers when debt collectors continue to violate their rights as specified under the Fair Debt Collection Practices Act.
Said the former SNL star:
Debt collectors often use deceptive and aggressive tactics, sometimes going after debts that have already been paid or even targeting the wrong person. This bill will protect consumers, keep debt collectors honest, and stop the misuse of law enforcement resources for private profit.
Franken is expected to formally introduce the bill later this week.
Sen. Franken introduces legislation to end debt collector abuse [Hometownsource.com]
Thanks to aweirdguy for the tip!