OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Cummings, Merkley Introduce Legislation to Protect Workers from Predatory Debt Collectors

Statement

Date: July 7, 2016
Location: Washington, DC
Issues: Finance and Banking

Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Senator Jeff Merkley introduced the Wage and Garnishment Equity Act of 2016 (WAGE Act) to protect workers from losing their entire paychecks to wage and bank garnishments.
"Predatory debt collectors use loopholes in our laws to claim families' wages, homes and vehicles," Cummings said. "The WAGE Act would limit the amount a creditor can garnish from paychecks and bank accounts, restoring fairness to the wage garnishment process and allowing debtors to continue living a normal life."
"Our debt collection laws are woefully out of date and, as a result, working families are pressed to the wall by predatory debt collectors, unable to cover essential expenses for their families," said Merkley. "It is way past time to update our garnishment laws to provide a fair pathway as families work their way out of debt."


Source
arrow_upward