Minnesota Court reaffirms that debt buyers may collect interest on credit card debts at the same rate as National Banks

DBA INTERNATIONAL in WASHINGTON, DC

On September 11th and 12th, representatives of DBA International visited Capital Hill as part of DBA’s ongoing legislative activities.  Over the course of these two days in DC, the delegation conducted 10 meetings, which included meetings with Members, congressional staff, committee staff, and the President of the Consumer Data Industry Association. 

The visits to congressional offices provided an opportunity for DBA to discuss a range of issues important to the debt buying industry, including: reform of the Fair Debt Collection Practices Act, Social Security number protections, and problems associated with the IRS Form 1099C.

The group met personally with Representative Ron Klein (D-FL), who serves on the House Financial Services Committee.  We talked to Representative Klein about the debt buying industry and the issues important to debt buyers. 

The DBA delegation also had an informal meeting with the President of the Consumer Data Industry Association (CDIA), Stuart Pratt.  The discussion focused on the interaction between debt buyers and credit reporting agencies, including Metro-2; E-Oscar; and identification and date of first delinquency issues. 

DBA International is planning a series of fundraising luncheons and coordinated office visits, which includes a trip to participate in the upcoming Federal Trade Commission debt collection workshop.  If you would like to attend the workshop or participate in any future events, please contact Roger Knauf by email at roger8660@yahoo.com or by phone (727) 450-1803 (office) or (612) 369-7763 (mobile).