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ABA: The American Bankers Association
Compliance News

CFPB Report: One in Four Consumers Have Debt in Third-Party Collections

A report issued by the Consumer Financial Protection Bureau found that 28% of consumers have at least one debt in collections by a third-party debt collector. The report examined collections tradelines—information about a consumer account sent to a credit reporting company, generally on a regular basis—from 2004 to 2008.