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Profiteering in a Non-Profit Industry: Abusive Practices in Credit Counseling
Senate Committee on Governmental Affairs Permanent Subcommittee on Investigations
Senate Committee on Governmental Affairs
Permanent Subcommittee on Investigations
Abstract
The Permanent Subcommittee on Investigations of the Senate Committee on Homeland Security and Governmental Affairs conducted an investigation into the abuse of the non-profit status by profiteering credit counseling agencies. The Subcommittee held hearings and conducted interviews involving high-ranking officials of said non-profits as well as IRS officials. The report found that abuse of the non-profit credit counseling status was widespread and that much of the industry was not credit counseling, but debt management, promises to restore credit ratings, or loans.
Date
2005-04-13
Document Type
Senate Committee Approved Report
Serial Number
109-55.S
Document Length
58 pages
Congress
109
Relation
DOI
Keywords
Committee Approved Reports
PAP Major Code
15: Banking, Finance, and Domestic Commerce
PAP Minor Code
1504: Consumer Finance, Mortgages, and Credit Cards