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Credit Grantors

A credit grantor is any individual or business that extends credit to customers. The credit can be for other businesses or consumers and can come in many forms, such as closed-end loans (like auto loans, mortgages, and student loans), revolving loans (like credit cards or certain home equity loans), or a hybrid of the two. Some credit is backed by property or assets.

In the U.S., the primary credit grantors are large commercial banks and credit unions. But credit is also extended by small businesses, governments, and other organizations.

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State AGs Miss the Mark on Business Records in FDCPA Rulemaking Comments

In comments submitted to the CFPB on the Advance Notice of Proposed Rulemaking under the FDCPA, the attorneys general of 31 states condemned the use of third-party prepared, integrated business records in civil lawsuits to collect debt as an example of “unfair, deceptive, and abusive acts or practices.” But many of those AGs use similar records in their own criminal cases.

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A High-Level Discussion of Debt Collectors, Involving no Debt Collectors

NPR’s The Diane Rehm Show aired a segment yesterday called “Inside America’s Debt Collection Industry.” Among the four guests, there were no representatives from the debt collection industry. What’s also interesting is that, in fact, most of the discussion was not about third party debt collectors, but creditors, debt buyers, and credit reporting agencies.