Oregon Collections Bill Could See New Life
An Oregon lawmaker wants to revive a bill next year that would make it easier to locate debtors who collectively owe the state more than $3 billion in back taxes and other debts.  more »
The Consumer Financial Protection Bureau on Thursday unveiled new disclosures for federal student loans that would require servicers to offer borrowers several repayment choices. more »
Pressler and Pressler responded to the CFPB's legal action announced Monday. The law firm points out that the settlement ultimately involves no consumer redress or restitution, no invalidation of judgments and no findings of the use of improper affidavit practices. more »
The CFPB ordered New Jersey-based collection law firm Pressler and Pressler LLP and debt buyer New Century Financial Services Inc. to stop churning out collection lawsuits allegedly based on nonexistent or flimsy evidence. more »
The CFPB filed complaints in federal court Thursday against two co-founders of a company that resold loan applications containing personal data to lenders and data brokers without reviewing the sources of those leads or the purchasers. more »
The Better Business Bureau serving the western part of Florida has issued an alert about a fraudulent debt collection operation using the name ACS Inc. more »
A GAO report released Monday indicates that the number of nonbank firms servicing mortgages in the U.S. is growing but the CFPB - the agency charged with protecting borrowers - does not have an accurate count of those companies. more »
Rick Reinhard
CFPB Director Richard Cordray's novel interpretation of the Real Estate Settlement Procedures Act is at the heart of a mortgage servicer's case against the agency.
A federal appeals court has set the stage for yet another legal showdown over the Consumer Financial Protection Bureau's structure in a major test of the bureau's authority. more »
CFPB Director Richard Cordray.
CFPB Director Richard Cordray testified before a U.S. Senate committee Thursday and was questioned about the bureau’s recent report stating service members complaints are nearly twice as likely to be about debt collection compared with the general population. more »
The ringleader of an identity theft scam that stole more than $457,000 from bank customers in New York will serve between 10 and 20 years in prison following his conviction on 15 counts - including grand larceny charges. more »
The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, nearly double the amount from a year earlier - sparking questions about why the fund is so large. more »
CFPB Director Richard Cordray.
The CFPB has ordered Student Aid Institute Inc., a company accused of preying on student loan borrowers, to shut down, cancel all contracts and stop participating in the industry. more »
A federal court halted a Chicago-area operation that allegedly threatened consumers to collect phony payday loan debts and provided portfolios of fake debt to other debt collectors. It's the FTC’s first case alleging that practice. more »

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