Press Releases

Public hearing in Portland today to focus on problems with debt collection

The head of the Consumer Financial Protection Bureau (CFPB) will be leading a hearing focusing on debt collection this morning in Portland, and Congresswoman Chellie Pingree said she's glad the agency is giving the public a chance to be heard on problems related to debt collection services.

"The whole point of the CFPB is to stick up for the consumer when it comes to the financial industry, especially when companies aren't following the rules," Pingree said. "So it's important for them to hear first-hand from consumers and this hearing in Portland is a good opportunity to do that."

Today the CFPB is announcing tools they are making available to consumers who believe they are being pursued by debt collectors who aren't following the rules. The Bureau will begin taking complaints about debt collection services and will publish a series of letters consumers can use in dealing with debt collectors, including one that instructs the debt collection company to end all attempts to contact the consumer.

CFPB Director Richard Cordray will be attending the hearing, which will also include panels representing consumers and other stakeholders.

The hearing, at 11 am at Merrill Auditorium in Portland, is open to the public but individuals have to first RSVP at cfpb.events@cfpb.gov.