Consumers Boost Savings Even as More Carry Credit Card Balances
Consumers are boosting the balances of their personal savings accounts and are also more likely to rollover their monthly credit card balances, according to the 2016 Consumer Financial Literary Survey.  more »
Forty percent of newly married people who responded to an Experian survey on finances reported they did not know their spouse’s credit score. One in three said their spouse’s spending habits were not what they expected. more »
The U.S. District Court for the Eastern District of Texas has granted the government’s motion for summary judgment against Texas-based collection agency Commercial Recovery Systems Inc. and its president, Timothy Ford. more »
The Consumer Financial Protection Bureau is expected on May 5 to release a proposal that would allow consumers to ban together in class action lawsuits even if there is an arbitration agreement. more »
Consumer credit default rates remained relatively flat in March despite a jump in bank card default rates, according to the S&P/Experian Consumer Credit Default Indices. more »
An Arkansas woman is alleging in a lawsuit that debt buyer PRA Group froze her bank account to try to collect $43,200 in interest on a $6,000 judgment that was less than two months old. more »
A lawsuit filed in New York alleges that Northern Leasing Systems, along with several affiliated companies and individuals, trapped small businesses into credit card processing equipment lease agreements and abused the court process by pursuing allegedly wrongful collection lawsuits. more »
A New York man who claimed a collection agency and law firm illegally garnished his wages under a state court default judgment cannot pursue federal claims against the firms, according to a ruling Thursday. more »
U.S. household borrowing climbed in February compared with January, supported by financing for automobiles and college education. more »
A proposed class-action lawsuit accusing collection agency LVNV Funding and law firm Eltman Eltman & Cooper of abusive collection practices can proceed, a federal judge has ruled. more »
A federal judge in Michigan has dismissed a proposed class-action lawsuit accusing debt buyer Encore Capital Group of suing consumers over old debts that were no longer legally enforceable. more »
Debt collection complaints topped the Consumer Financial Protection Bureau’s annual list in 2015 with 31% of total complaints, but the number dipped 3.5% to 85,200. more »
The CFPB's latest monthly report on complaints from consumers focuses on debt collection complaints. more »

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