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Prepared Remarks of CFPB Director Richard Cordray at the CFPB Debt Collection Event

I want to thank my friend, Karl Racine, for hosting us here in City Hall. As most of you know, he serves as the first elected Attorney General in the history of Washington, D.C. He is also a great partner for us at the Consumer Financial Protection Bureau and he cares deeply about protecting and supporting all the citizens and consumers here in the District. Thank you all for joining us as well. Today we will shed more light on how consumers experience debt collectors and about some troublesome aspects of the market for buying and selling debts.