CFPB Cracks Down On Debt Collection Robocall Scam
Public Policy Fellow
Anyone who’s received a robocall from a phony IRS agent knows that robocall scams are surprisingly common. Luckily, the Consumer Financial Protection Bureau (CFPB) has put robocall scammers on notice by cracking down on a shady debt collection operation.
The CFPB announced that it has filed suit against several companies for allegedly using robocalls to scare people into giving up money they didn’t owe.
According to the CFPB’s complaint, the defendants bought contact information from lead generators and debt brokers. Then, they hired a robocall company to send out millions of robocalls claiming that the consumers had committed check fraud, and that they would alert the consumers’ employers. When the consumers called back, they were threatened with arrest if they did not provide payment.
The defendants are accused of taking millions of dollars away from consumers through this robocall scheme.
It’s relatively easy to use robocalls to try to trick vulnerable consumers out of their money. That’s why we’re calling on the phone companies to provide free tools to consumers that will block these unwanted robocalls!