Congressman Al Green Supports Comprehensive Debt Collection Improvement Act

May 13, 2021 Issues: Financial Services

(Washington, D.C.) – On Thursday, May 13, 2021, Congressman Al Green released the following statement in support of H.R. 2547, the Comprehensive Debt Collection Improvement Act:    

“Chairwoman Waters’ Comprehensive Debt Collection Improvement Act will improve debt collection, not end it. It will cause unscrupulous debt collectors to be held accountable for their predatory behaviors. The rights of consumers must be protected. This is why I support H.R. 2547,” stated Congressman Al Green, Chair of the House Financial Services Subcommittee on Oversight and Investigations. “During the coronavirus pandemic, household debt has increased to record heights, burdening consumers and small businesses while collections agencies enjoy ballooning profits. Recent reports from the Consumer Financial Protection Bureau (CFPB) reveal a 10% increase in consumer complaints regarding debt collections from 2019 to 2020; and research demonstrates abusive debt collection practices disproportionately harm communities of color as well as low-income communities.”

“Debt is becoming the American nightmare, thwarting the possibility for actualizing the American dream for far too many. This legislation would enhance the rights of consumers and increase accountability of debt collectors. It would provide protections for small businesses, military servicemembers, students, and other consumers against mistreatment and harassment by certain debt collectors.”

Congressman concluded, saying, “I will vote ‘YES’ for the Comprehensive Debt Collection Improvement Act.”