The Consumer Financial Protection Bureau is suing a Georgia-based firm for allegedly churning out debt collection law suits.
Agency says ACE Cash Express pressured borrowers into taking out loans they couldn’t afford.
Issues with closing or managing a bank account made up the bulk of complaints.
The CFPB is gathering information about areas of concern in debt collection practices.
The CFPB is asking for comments on debt collection to help create new consumer protections.
The National Consumer Law Center reports that archaic state laws force debtors into poverty.
The federal government hit JPMorgan Chase with $1 billion in fines for a bevy of practices.
The federal government ordered Chase to clean up its debt collection practices and help affected consumers.
A survey of state and local consumer protection agencies found no shortage of complaints.
Consumers can file complaints against debt collectors online with the CFPB.