Al Franken seeks legislation to reduce debt collection abuse

It’s always good to see someone in Washington who shows more interest in regular voters rather than the deepest pockets. We sure could use people in Congress like Franken. StarTribune:

Franken would make it an unfair practice under federal law for private firms to use arrest warrants in debt collections, according to a summary of his proposed bill. Consumers would have the right to sue collectors over the practice. Franken said the bill won’t limit judges’ authority to issue arrest warrants against debtors who can pay, but don’t show up in court when a creditor sues.

“That should come from the court, not the debt collector,” said Franken, who asserted that the collections industry relies too much on public resources, such as sheriffs’ offices, to collect private debts.

His legislation also would require collectors to furnish consumers with more information about what they owe, including a breakdown of fees and interest, and notify people of what rights they have.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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