Debt collection held steady as the second ranked consumer complaint reported to the Federal Trade Commission, according to the federal agency's 2014 Consumer Sentinel Network Data Book, which was released Friday. more »
Total lawsuits filed under the Fair Debt Collection Practices Act rose in January while lawsuits citing violations of the Telephone Consumer Protection Act fell. The numbers reverse a trend from the past three years. more »
Federal and state regulators filed lawsuits against two debt collection rings for allegedly using threats and abusive language, including falsely stating that consumers would be arrested. The operations collected more than $45 million in supposed debts, according to the complaints. more »
The surprising part of a recent report on U.S. stress tests is not that Deutsche Bank and Banco Santander might fail, but that large banks manage to pass any country's stress tests at all.
Consumer Financial Protection Bureau Director Richard Cordray discussed CFPB enforcement efforts and the pending rules for the debt collection industry, which are expected to be issued this year, during the National Association of Attorneys General meeting.
Officials in Elmhurst, Ill., a Chicago suburb, are looking at hiring a new collection agency to pursue overdue parking tickets and other delinquencies.
A contingent of former Corinthian Colleges Inc. students, backed by student advocates and more than a dozen Senate Democrats, has demanded that the U.S. Department of Education forgive thousands of federal student loans taken out by Corinthian students.
A bill introduced in the New York State Senate would make it illegal for debt collectors and creditors to use social media when attempting to collect debts.
A complaint filed in district court by the Federal Trade Commission aims to stop an operation that has targeted consumers with outstanding payday loans, claiming they could help resolve those debts but then providing little or none of the financial relief promised.
Everyone knows the proverb "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime."
Student loan debt remains a pressing concern in the U.S. because of high balances and high rates of delinquencies and defaults. The issues have been discussed in recent blog posts by the Federal Reserve Bank of New Yorks Liberty Street Economics team.
South Dakota officials are hoping the state legislature grants authority for the creation of a state office for debt collection, a proposal supporters believe could help bring in additional recoveries of up to $34 million in the next five years.