Soaring student loans and the reluctance of Millennials to own houses and cars threaten to define the entire generation and put them behind - as a whole - throughout their lives, a chief economist at Equifax said. more »
Prosecutors in California settled a consumer fraud case with Debt Free Associates LLC and are now urging eligible clients to seek the refunds they are owed, Monterey County (Calif.) District Attorney Dean Flippo said. more »
Under fire from New York's top banking regulator, Ocwen Financial took a $100 million charge for a potential settlement for servicing violations and posted a third-quarter loss. more »
Subprime auto loan delinquencies have risen to levels that are higher than before the financial crisis and arent rising at the same pace as loans to others, Citigroup analysts wrote in a report, without citing specific issuers.
The Consumer Financial Protection Bureau issued a report Tuesday highlighting illegal actions uncovered from supervising the student loan servicing market.
A federal court complaint against AT&T Mobility LLC charges that the company misled millions of its smartphone customers by charging them for unlimited data plans while reducing their data speeds, in some cases by nearly 90%.
Americans pay three times more in medical debt to collection agencies than they pay for credit card and bank debt combined, according to a study by NerdWallet Health.
The Sixth Circuit Court of Appeals reversed a lower court decision Friday, ruling debt buyer Portfolio Recovery Associates violated the Fair Debt Collection Practices Act when it sought to collect interest charges on a credit card debt.
Regulatory policies need to be both rational and consistent in order to work efficiently. Conflicting regulatory requirements lead to paralysis, and irrational regulatory requirements lead to waste and unnecessary costs.
Overall, U.S. residential properties - including single-family homes, condominiums and townhouses - sold at an estimated annual pace of 4.4 million in September.
A defendant in a deceptive mortgage and debt relief enforcement case must pay a previously suspended $515,000 court judgment after authorities learned he hid assets.