Debt Collection Complaints Rank Second on Annual List
Debt collection held steady as the second ranked consumer complaint reported to the Federal Trade Commission, according to the federal agency's 2014 Consumer Sentinel Network Data Book, which was released Friday.
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A bill introduced in the New York State Senate would make it illegal for debt collectors and creditors to use social media when attempting to collect debts. more »
Vladimir Drinkman, a Muscovite charged in the biggest data-breach prosecution in U.S. history, pleaded not guilty to federal charges that he conspired to steal 160 million credit card numbers. more »
Consumers Union launched a campaign Wednesday asking the largest telephone companies to offer customers free tools to block robocalls. more »
Bloomberg News
CRITICAL: "We have to protect the trust" of the consumer, or it's "game over," said U.S. Bancorp.'s Richard Davis.
WASHINGTON — Bankers, technology CEOs and President Obama are throwing everything they have at countering the threat of cyber attacks, but based on a White House summit Friday on the issue, it's far from clear that it will be enough. more »
A Switzerland-based firm on Tuesday acquired Akcelerant, a U.S.-based financial software provider active in the accounts receivable management space. more »
Anthem Inc., the second-biggest U.S. health insurer by market value, said hackers obtained data on tens of millions of current and former customers and employees in a sophisticated attack that has led to a Federal Bureau of Investigation probe. more »
ACA International, DBA International and the National Association of Retail Collection Attorneys are part of a coalition requesting that a key federal regulator address issues related to updating the Telephone Consumer Protection Act. more »
A California federal judge last week approved a $2.75 million settlement with USCB Inc., an accounts receivable management firm, to end allegations that the company violated the Telephone Consumer Protection Act and the Fair Debt Collection Practices Act. more »
TracFone, the largest prepaid mobile provider in the U.S., will pay $40 million to the Federal Trade Commission to settle charges that it deceived millions of consumers with false promises of unlimited data service. more »
9 to 5: "We are trying to get the less risky part of the underbanked," said Adam Potter, president of SimpleFi.
As regulators continue to scrutinize payday lending and associated products, a California startup thinks it has come up with a unique alternative for offering credit to those with lower credit scores — and some financial institutions are already signing up. more »
A bill “unraveling the new rules on Wall Street” will not get his signature, Obama said.
WASHINGTON - President Obama on Tuesday night touted his administration's financial services rules, called for steps to benefit the middle class such as lower Federal Housing Administration premiums and reiterated support for legislation to address cyber threats. more »
A Maine Supreme Court justice has ordered the withdrawal of a public reprimand of a lawyer involved in a mortgage foreclosure scandal related to robo-signing documents. more »

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