The credit card market gained strength in last years third quarter, with more new accounts and higher monthly purchase volumes across all risk categories, according to the American Bankers Associations latest Credit Card Market Monitor. more »
WASHINGTON After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products. more »
The Public Prosecution Service of Canada has issued a notice seeking collection agencies to pursue a $136 million backlog of delinquent court fines. more »
A mortgage relief operation has settled Federal Trade Commission charges that they illegally charged upfront fees for services they falsely promised would reduce consumers mortgage interest rates or monthly payments.
A federal class-action lawsuit alleges credit bureau TransUnion illegally charges $10 before it places security freezes on the files of people who are dealing with identity theft.
European banks plan to sell $109 billion of bad debt in 2015 to reduce costs and rebuild their balance sheets, according to a PricewaterhouseCoopers LLP report.
U.S. Sen. Sherrod Brown, D-Ohio, announced his ongoing co-sponsorship of legislation aimed at allowing people with outstanding student loan debt to refinance at the lower interest rates offered to new borrowers. The measure has resurfaced in the 114th Congress.
An Illinois federal court dismissed a Fair Debt Collection Practices Act case that involved a collection account number being visible on an envelope containing a debt collection letter. The decision goes against a high-profile collection case ruling last year.
Ontario Systems has expanded its Compliance Consulting Services to offer an enhanced scoring model called OntarioComply that analyzes more than 225 compliance obligations.
Thirteen Minnesota hospital systems reported a bad-debt increase of $15 million between 2013 and 2014 even as charity care costs - reported by 10 hospital systems - fell by about $37 million in the same period, according to an analysis by the Minneapolis Star Tribune.
Unifund Group has acquired First Resolution Investment Corp., including all assets and an estimated 72,000 accounts with a face value of $1 billion.
March Madness office pools are in full swing. While sports analysts provide ample entertainment, their predictions have time and again forced me to shell out to my victorious colleagues. For this reason, I shut out the chatter and focus on the stats.