Chris Grayling Quotes

No other facet of American business is more corrupt, more intoxicated with illegality, more weakly regulated, and has a greater impact on poor and working people than debt collectors; not credit card companies or subprime mortgages, not even payday lenders.

Navient's actions have led to student borrowers needlessly carrying billions of dollars in debt, and the company must be held accountable.

My mother was being hounded by a debt collector over a debt that she didn't owe, and she eventually just paid it because she wanted the calls to stop. I was very surprised. It sounded so strange. I started poking around on the internet and found this was extremely common. There was this world where these debts were sold off by the banks for pennies on the dollar and bought and sold.

For too long, Americans have fallen victim to financial abuses at the hands of predatory lenders that operate in the shadows.

The Pentagon got fed up with its recruits getting ripped off by payday lenders and in 2007 got Congress to make it illegal to extend such loans to members of the military. But civilians remain fair game.

We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.

Many a poor soul has had to suffer from the weight of the debts on him, finding no rest or peace after death.

People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.

Beefs against debt collectors are consistently among the top complaints received by both the FTC and state attorneys general.

Debt collectors should be required to disclose the applicable statute of limitations in the body of their collection letters, in bold type. While it's not illegal to dun a consumer for an old debt, it is illegal to sue for one.

Why don't we call on the credit card companies to be accountable? They need to be held accountable for their predatory lending practices.

There was a time (not so long ago historically) when people were put in jail for owing money. Now we not only don’t punish them, but we make it easier and easier for them to slide out of their old debts, and start getting into new ones.

The poor man who takes property by force is called a thief, but the creditor who can by legislation make a debtor pay a dollar twice as large as he borrowed is lauded as the friend of a sound currency. The man who wants the people to destroy the Government is an anarchist, but the man who wants the Government to destroy the people is a patriot.

We will do everything within our power to protect Floridians from unlawful debt collection practices that often employ scare tactics to manipulate individuals.

As I travel across Illinois and talk with people, and as others reach out to my office desperate for help, I am becoming convinced that, despite their rhetoric, many lenders have no interest in actually helping their customers.

I'm very interested in the more grass-roots consequences of the economic meltdown: issues related to mortgage foreclosures, debt collection, and the practices of credit card companies and others who hold a lot of consumer debt.

Congressman Watt has a long history of advocating against predatory lending and the mortgage practices that caused millions of families to lose their homes.

For many, the loan modification process has been a giant sham.

Before the CFPB, there was no single agency or entity within the federal government tasked with protecting Americans from predatory or negligent practices of banks, credit card companies, mortgage lenders, payday lenders, credit rating agencies and other financial service businesses.

We pursued many actions against foreclosure rescue scammers who were reaching into the pockets of desperate people in an effort to steal what little remained as they sought to keep their homes.

The Fair Debt Collection Act was passed in 1977, and there were never any provisions for rules to be written under it, so it hasn't kept pace with the times.

The credit card companies have put the loan sharks out of business.

That's why Credit card companies are evil. Are they sponsoring the show tonight? ... They are Evil.

Haven't we all grown up trusting high street banks? Their branches were fixtures, not only in our towns and cities, but in the way our lives ran. Yet it is no exaggeration to say that thousands, possibly millions of us, instead of being helped have found our lives permanently damaged by the toxic U.K. financial system.

When I went to law school, I took a bankruptcy class with then-professor, now-Senator Elizabeth Warren. And I'll never forget that first day of class, hearing her talk about the importance of the bankruptcy system.