Many financial institutions and other entities engage in debt collection, including originating creditors, third-party collectors, debt buyers, and collection attorneys.
The Dodd-Frank Act (Act) gave the Consumer Financial Protection Bureau (CFPB) supervisory authority over various types of institutions that may engage in debt collection, including certain depository institutions and their affiliates, and nonbank entities in the residential mortgage, payday lending, and private education lending markets, as well as their service providers. The Act also gave the CFPB supervisory authority over “larger participants” of markets for consumer debt collection, as the CFPB defines by rule, and their service providers.
Here is a non-comprehensive bullet list of the variety of such businesses -
