Monday, January 17, 2022

U.S. grants loan sharks power to harass debtors on social media

The new rule grants debt collectors direct access to their debtors on various social media platforms and available options to bombard them with emails, texts.

• December 1, 2021
United States President Joe Biden
United States President Joe Biden

New U.S. regulation has granted debt collectors direct access to harass debtors on social media platforms.

According to the Washington Post, the new rule, which grants debt collectors direct access to their debtors on various social media platforms and available options to bombard them with emails, texts, and calls, was effected on November 30, 2021.

The new rule was designed to eliminate abusive debt collection practices and modernise the legal debt collection regime.

Although the rule grants access to harass debtors, privacy limitations have been put in place to protect debtors in the process.

This means a private conversation between the debtor and collector cannot reveal to the public, social media followers and friends to both parties.

The director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, said the agency was currently observing the rule’s effectiveness to see if there is a need to “strengthen it further.”

More from Peoples Gazette

Matawalle and Bandits

States

Zamfara community storms govt house over persistent attacks despite paying over N200 million ransom

Mr Abdullahi said the community had suffered more than 13 attacks, lost more than 50 persons and have spent over N200 million in the last two years as ransom.

Liverpool Vs Brentford

Sport

Liverpool thrash Brentford, displace Chelsea from second spot on EPL log

Liverpool are now second on the EPL log with 45 points in 21 games, displacing Chelsea who had 43 points in 22 games so far.

Bola Tinubu and President Muhammadu Buhari

Politics

Buhari should use necessary means to crush bandits, says Tinubu

The APC chieftain, who is aspiring to become Nigeria’s president in 2023, has revved up visitations to politicians in the name of sympathy.

Dopemu Road

Lagos

Lagos to close Babajide Sanwo-Olu Road for repairs; announces traffic diversions

The traffic diversions and road rehabilitation would last for three months, Lagos transport commissioner said.

Jigawa CP, Aliyu Sale and Bandits

States

Bandits abduct 15 villagers in Niger; police beg for search tips

Police spokesman in the state, Wasiu Abiodun, in a statement in Minna on Sunday, said the victims were abducted at about 02:00 a.m. on Friday.

A chaotic cable connection

Enugu

South-East customers bypassing meters, stealing energy too much: EEDC

EEDC warned that if electricity theft was not abated, energy services in the region would be jeopardised.