A federal court has imposed a $26.9 million judgment against the operator of a work-at-home scheme who lied about his financial assets in an effort to hide them from the Federal Trade Commission when he agreed to a settlement with the agency in 2010. more »
Capital One and three collection agencies will pay $75 million to settle Telephone Consumer Protection Act class-action claims. It's the largest cash settlement in the TCPA's history. more »
Historically, only lenders have had unlimited access to consumers' complete credit files, while consumers are generally restricted to obtaining just one free credit report a year from major credit bureaus. Credit Karma is making that data even more accessible. more »
A federal court has shut down a mobile phone cramming scheme that piled more than $100 million in charges on consumers mobile phone bills without permission.
Lindorff Espana, part of Oslo, Norway-based collections and credit giant Lindorff, has purchased the debt recovery unit of Spain's Banco Sabadell for $218 million, the companies announced this week.
Federal and state regulators have obtained $92 million in debt relief from Colfax Capital Corp. and Culver Capital LLC, collectively known as Rome Finance, for service members and others harmed by a predatory lending scheme.
A study released Tuesday found that the share of Americans in collections has remained steady even as the U.S. pares down the size of its credit card debt.
Complaints against collectors logged in the Consumer Financial Protection Bureaus database rose in June but trailed April's total.
Ohio Attorney General Mike DeWine countered criticism of alleged favoritism in the state's debt collection program by announcing his office had a record year in collecting money owed to the state.
Collection agency Bounceback Inc., based in Kansas City, Mo., is accused in a federal lawsuit of "renting" county prosecutor seals to threaten people with jail time if they did not pay their debts.
WASHINGTON An in-depth look by the Consumer Financial Protection Bureau into its consumer complaint database has yielded some surprising insights, including a relative lack of grievances against payday lenders and that most consumers appear satisfied by companies' response.