Lemberg & Associates client Bradley Kimbell was profiled in an article outlining the increasing prominence of the Consumer Financial Protection Bureau’s role in regulating the debt collection industry. The article, written by Andrew Tangel and printed in The Record, outlined Kimbell’s experience with debt collection robocalls, and the runaround he received when trying to communicate with Palisades Collection, a subsidiary of Asta Funding. It also quotes attorney Sergei Lemberg.
Tangel’s article position’s Kimbell’s story as one reason why the CFPB is trying to fill the enforcement gap in reining in the debt collection industry. CFPB Director Richard Cordray has been vocal about putting a stop to the most egregious tactics used by the bad players in the industry, and the CFPB has proposed a rule that would enable the agency to more closely regulate the largest debt collection agencies and credit reporting agencies.