Consumer-finance watchdog eyes credit scores

WASHINGTON – Feb 17, 2012 – The nation’s new cop on the consumer-finance beat is zeroing in on debt collectors and credit reporting companies.

The Consumer Financial Protection Bureau (CFPB) said Thursday that it wants to add debt collectors and credit bureaus to the list of industries that agency officials can supervise in person.

The agency has already started supervising payday lenders, mortgage companies and private student lenders. It gained that power last month, after President Barack Obama installed its director.

The CFPB can also write rules to supervise big companies in other industries. Thursday’s announcement was a first step toward defining which industries the CFPB wants to scrutinize.

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