Millennials are beginning to take on more auto and student loans but are lagging in their use of credit cards and are slower to build some types of credit compared to Generation X and Baby Boomers, a report from Experian reveals.
A Consumer Financial Protection Bureau plan detailing ways to protect consumers from payday lending "debt traps" has earned widespread support from Americans, according to a survey by Pew Charitable Trusts.
Financial institutions that make routine collection calls now face the threat of "robocall" class action lawsuits. Earlier this month, things went from bad to worse for banks that have not committed any abusive robo-calling practices.
A new Government Accountability Office report found that the Internal Revenue Service’s uncollected tax debts rose 23% since 2009 to $380 billion while the agency’s collection staff fell 23% during the same period after years of budget cuts.
Some Democratic lawmakers want to help consumers fight back against creditors. The Consumer Reporting Fairness Act, introduced by Sen. Sherrod Brown, D-Ohio, would make it easier to fix inaccurate credit reports.