H.R.864 - Stop Debt Collection Abuse Act of 2017115th Congress (2017-2018)
|Sponsor:||Rep. Love, Mia B. [R-UT-4] (Introduced 02/03/2017)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/12/2017 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. (All Actions)|
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Summary: H.R.864 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (02/03/2017)
Stop Debt Collection Abuse Act of 2017
This bill amends the Fair Debt Collection Practices Act to apply that Act's restrictions to collectors of debt owed to a federal agency.
A federal agency that is a creditor may not sell or transfer a debt to a debt collector until 90 days after the obligation becomes delinquent or defaults. Specified notice to the consumer of such a sale or transfer is required.
A collector of debt owed to a federal agency may not collect any interest, fee, charge, or expense that is: (1) unreasonable in relation to actual costs, (2) not authorized by a contract between the debt collector and the federal agency, or (3) greater than 10% of the amount collected.
The Government Accountability Office shall study and report to Congress on the use of debt collectors by federal, state, and local government agencies.