Senate Commerce Committee Hearing On Loan Modification, Foreclosure Rescue, Debt Reduction Scams To Be Held Today

In Charleston, West Virginia, The Charleston Gazette reports:

• [T]oday in Washington, [Senator Jay] Rockefeller, D-W.Va., is devoting his first full hearing as the new chairman of the Senate Commerce Committee to [debt-related, consumer] scams. He plans to introduce legislation to stop a rising tide of con artists who are preying on people in economic distress.

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• The hearing will focus on three rapidly growing consumer scams: scammers who promise to stop foreclosures, con artists who promise to fix credit ratings, and phony credit counselors who say they will negotiate with creditors and lower the fees and amount owed.

For the story, see W.Va. woman to testify before Jay's panel (Focus will be on consumer foreclosure scams).