Predatory collection agencies getting small-business relief dollars?

I have an update for you about an important bill I’m working on. As a former consumer protection attorney, this issue caught my attention and drew my ire.

This past year has been hard for struggling families and small businesses – and many of them have been hounded relentlessly by collection agencies.

The Paycheck Protection Program, PPP, is designed to support small businesses and families in this time of crisis, but recently we learned that some collection agencies have received PPP funding – even after they have violated the Federal Fair Debt Collection Practices Act. As the Washington Post reported: “...more than 1,700 debt-collection agencies and related businesses borrowed from the program, totaling more than $520 million in loans. Some of the recipients have been sanctioned previously for harassment or other abusive tactics.”

The government should not be supporting predatory collectors while they harass families and small businesses. So I’ve introduced a bill to close this loophole and protect our stimulus investments from predatory collectors.

Unscrupulous collectors are going to fight this, but they aren’t going to get much sympathy from all of the families they’ve wronged over the years.

I’m focused on making sure any and all remaining COVID stimulus funds intended for small businesses go to the small business owners who need it and not to predatory collectors.

I’ll be keeping you posted as we move forward. This effort is all about good government and making sure our taxpayer COVID rescue dollars are spent wisely.

Thank you for standing with me,