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Regulators Propose Huge Overhaul of Debt Collection Industry

The Consumer Financial Protection Bureau proposed a massive overhaul of the multibillion dollar debt-collection industry on Thursday, which would restrict collectors from calling numerous times a day, require them to have more documentation on what's owed, and give people more ability to dispute their bills. It would be the biggest overhaul of the debt collection industry since Congress passed the Fair Debt Collections Practices Act nearly 40 years ago. Regulators estimate roughly 70...

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