Collection Complaints Decline in September
Complaints against the collection industry logged with the Consumer Financial Protection Bureau dropped last month.
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"Private student loans far outperform federal loans," said the CBA's Steve Zeisel
WASHINGTON — To hear the Consumer Financial Protection Bureau tell it, the private student loan market is a mess, filled with angry borrowers many of whom claim to have been taken advantage of by banks and servicers. more »
"We are going to weigh every option to see that these problems are corrected," said the CFPB's Rohit Chopra, speaking of issues the agency detected in how firms deal with student loan debt.
The Consumer Financial Protection Bureau is urging policymakers to reconsider how student loan debt is treated under the bankruptcy code. more »
More than 1,000 people jailed in Spokane County, Wash. for failing to pay court-ordered fines in the past six years stand to benefit from a class-action lawsuit settlement valued at $350,000. more »
The Honorable Michael B. Kaplan is a bankruptcy judge for the district of New Jersey in Trenton
Congress should amend the bankruptcy code to permit borrowers to discharge student loan debt if their net monthly income is insufficient. more »
Amy Crews Cutts
While year-to-date auto loan growth rates have slowed compared to last year, totals for new credit and the number of new loans originated for auto purchases are at record highest, according to the latest Equifax National Consumer Credit Trends Report. more »
A sweepstakes operator that took millions of dollars from consumers throughout the U.S. and dozens of other countries - including Canada, the United Kingdom, France and Japan - is banned from the prize promotion business under a settlement with the Federal Trade Commission. more »
A federal court on Thursday halted a telemarketing scheme that duped senior citizens by pretending to be part of Medicare and took millions of dollars from consumers' bank accounts without consent. more »
Kristen Albert, a supervisor at a Massachusetts collection agency, took the stand in a murder trial on Tuesday. more »
Kristen Albert, a supervisor at a Massachusetts collection agency, took the stand in a murder trial on Tuesday. more »
Student loan debt totals a record $1.2 trillion but the rampant growth could slow as the strengthening economy reduces the number of new loans, Deputy Treasury Secretary Sarah Bloom Raskin said Monday. more »
Hospitals will save $5.7 billion in uncompensated care costs this year because of the Affordable Care Act, with those found in states that have expanded Medicaid projected to save the bulk of the total, according to a report from the Department of Health and Human Services. more »
Federal student loan defaults fell for the first time in several years but stayed far above levels reported before the recession, and there are questions about how the rates are calculated. more »

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