The Consumer Financial Protection Bureau is announcing new regulations today for debt collectors, aimed at curbing abusive practices.
The proposed regulations would prevent debt collectors from contacting a consumer more than six times a week, and require them to provide more information on how people can dispute debts, among other things. The Urban Institute estimates that 77 million people have debt that has been taken up by a collection agency.
Here & Now's Meghna Chakrabarti speaks with business journalist Ali Velshi about the announcement and its implications.
This segment aired on July 28, 2016.