Senator Al Franken (D-Minnesota) plans to introduce a bill that will ban the use of arrest warrants by private debt collection firms. The proposed bill would also require collectors to give consumers more information about what they owe, including an itemization of fees and interest, and notify people of what rights they have.
The bill will expand upon the Fair Debt Collection Practices Act (FDCPA), but will increase the penalties, add triple damages for willful violations and allow judges to issue injunctions to stop continued wrongdoing.
Franken said he believes his bill will “clarify what is acceptable and what is legal and isn’t.”
Franken moves to curb abusive debt collection | Star Tribune | September 27, 2010