An estimated 77 million Americans have a debt in collections, or about 35% of consumers with credit files or data reported to a major credit bureau, according to a joint study, which noted that the positive impact of collections is expected to increase. more »
The CFPB is looking at "the size of fees, frequency of fees, occasions for fees, the ordering of transactions" in overdraft but "we are not going to be banning the overdraft product," said CFPB Director Richard Cordray.
WASHINGTON In expansive comments, Consumer Financial Protection Bureau Director Richard Cordray provided new details Tuesday about proposals due soon from the agency while offering insights into an internal battle over easing a key mortgage rule. He only briefly touched on debt collection rules. more »