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February 17, 2012

Consumer Agency to Monitor Debt Collectors, Credit Reporters 
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A federal watchdog agency has unveiled plans to regulate debt collectors
and credit reporting agencies in a move that could shed light on
companies known for their abusive practices. Debt collectors and credit
agencies — groups that produce reports on consumer credit history
— have gone unregulated by the federal government despite
widespread reports of improprieties. Richard Cordray, director of the
Consumer Financial Protection Bureau said, "Debt collectors and credit
reporting agencies have gone unsupervised by the federal government for
too long."



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