"We are taking an important step toward ending the debt traps that are so pervasive in both the short-term and longer-term credit markets," said CFPB Director Richard Cordray in prepared remarks.
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 »
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. more »