Enhanced consumer protection from foreclosure debt collectors.
This bill aims to ensure that companies enforcing security interests, such as those handling foreclosures, are treated as debt collectors. This means they will have to follow the same rules and restrictions as other debt collection agencies, potentially increasing consumer protection against unfair practices.
Key points
Companies involved in property foreclosures (e.g., for unpaid mortgages) will be subject to debt collection laws.
Citizens will gain greater protection against potentially aggressive or unfair practices by these companies.
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