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CNNMoney investigation leads to federal legislation

Thanks to a digital CNNMoney investigation, New Jersey’s senator Cory Booker is proposing legislation “that would close the loopholes that allow debt collectors working for the federal government to use such abusive practices.”

Says the top of a CNNMoney report:

Months after a CNNMoney investigation exposed the high fees, scary threats and other abuses of debt collectors hired by government agencies, New Jersey Senator Cory Booker is taking action.

In a statement to CNNMoney, Booker said, “From unpaid traffic tickets to overdue student loans, debts owed to the government have too often become a license for debt collectors to harass and intimidate well-meaning families who are struggling to get by.”

According to CNN, Booker’s bill, the Stop Debt Collection Abuse Act, would limit the fees charged by collectors working for federal agencies to 10%.


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