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Article: Proposed Federal Rules Highlight Need for Financial Reform
- Article from:
- U.S. Newswire
- Article date:
- August 26, 2009
CopyrightCopyright 2009 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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To: NATIONAL EDITORS
Contact: Mark Tosczak, +1-336-553-1808,
mtosczak@rlfcommunications.com, for CareOne Services, Inc.
COLUMBIA, Md., Aug. 26 /PRNewswire/ -- Proposed federal
regulations governing debt relief services would not apply to the
nonprofit portion of the industry at a time when significantly more
people are seeking help with debt, according to CareOne Services
President Mike Croxson. For example, the proposed rules wouldn't
cover nearly 90 percent of debt management program providers, which
happen to be nonprofits.
"The proposed rules from the Federal Trade Commission will
absolutely help protect consumers who need help dealing with debts
they find overwhelming," said Croxson. ...