Gramm-Leach-Bliley Financial Moderinzation Act of 1999
Date: Sun, 09/10/2006 - 13:49
I've spent alot of time today researching alot of pdl stuff and I came across this act: The Gramm Leach Bliley Financial Moderinzation Act of 1999.
Basicall this is a law that puts pdls in the classification of "financial institution", and this law protects the consumers privacy and how the pdl can collect on the loan without violating your privacy. So it seems that these pdls are violating this law when they make these calls. Try reminding them of this law and that they are out of compliance, and report them to the FTC. This law clearly states that pdls are a "financial institution" and must follow the law!!!!
I'm willing to be the minimum wage/uneducated customer service r
I'm willing to be the minimum wage/uneducated customer service reps/collectors are not aware of this!
That very well could be! When I was a student loan collector, we
That very well could be! When I was a student loan collector, we would mail out copies of this act every time a borrower agreed to certain repayment terms. It's good to know the laws!
I always looked at the fdcpa and it's relative laws as my icebreaker in collections, my trust-establisher, and my rapport-builder. The FDCPA helped borrowers learn to trust me and accept my help. Why these PDL collectors don't share my philosophy I simply don't understand. They shoot themselves in the foot.
Go through following pages to
Go through following pages to have a vivid knowledge on GLB Act 1999.
(Hope links are allowed)
This is great knowledge to have, but it seems to me that this wo
This is great knowledge to have, but it seems to me that this would be closely related to the fdcpa.