Analytics

ACA International officials on Monday introduced "The Path Forward: A Blueprint for Modernizing America’s Debt Collection System" - a five-point plan it hopes will improve collections by reducing, preventing and better resolving consumer complaints.

Citigroup Inc. on June 15 clarified the timeline and updated the number of accounts breached in a recent hacker attack that put an estimated 1% of its North American Citi-branded credit card base at risk.

Despite various warnings, many young adults feel empowered by credit card and student loan debt, suggests a recent national study by a team of sociology researchers examining the connection between debt and self-esteem.

The average consumer credit card default rate for most large issuers declined again in May, likely bringing the charge-off rate close to 7%, suggest preliminary data from Moody’s Investors Service.

Regions Financial Corp. may not be the only bank planning to buy back its credit card portfolio now that the worst of the recession’s damage is receding, according to one expert who tracks credit card portfolio sales.

The twin effects of lenders keeping a tight rein on credit card lines and consumers borrowing less with cards in April drove the average card-account default rate down to levels not seen since February 2009, according data Fitch Ratings released June 10.

The top South Korean financial regulator plans to restrict credit card issuance and curtail issuers’ marketing budgets to combat growing household debt in that country.

Regions Financial Corp. used to have credit cards in name only. Now, the Birmingham, Ala., bank is going all in.

U.S. consumers filed an estimated 568 lawsuits against collection agencies and creditors between May 1-15, according to statistics from U.S. District Court branches.

With Americans increasingly concerned about the outlook for jobs and the economy, U.S. consumer confidence fell to a six-month low in May, according to The Conference Board's confidence index.

The freeze in consumer credit showed another major crack in the first quarter.

Legislation aimed at stopping the government from asking disaster victims to pay back millions of dollars in improper aid payments has received committee approval and been sent to the Senate.

Credit card issuers and other lenders’ attention to alternative credit-scoring data–information not provided by the three major bureaus–has intensified after the financial crisis spotlighted what some have called an over-reliance on traditional credit scores. A few are finally going the extra step and openly using this data.

The estimated number of collection agencies and creditors that were sued in the April 16-30 period jumped to 540 compared with 504 in the first half of April, according to data from U.S. District Courts.

Prices for charged-off credit card debt remain stubbornly high, continuing a trend that began in 2010 as tighter credit standards imposed by lenders began to shrink the available supply.

A federal district court judge ordered a marketing operation to pay more than $3.7 million as part of a contempt case for violating a 2008 court order.

Three state-owned banks in Thailand on June 1 will begin offering credit card customers additional funds to refinance their outstanding credit card debts, a Bank of Thailand spokesperson tells PaymentsSource.

From the Department of How Soon They Forget: Subprime is making a comeback.

A stable and growing Indian economy is helping revive credit card use, which had dropped considerably during the economic slowdown, data from India’s central bank reveal.

Higher fuel and food prices in April led to a cooling in consumer spending, according to economists surveyed by Bloomberg News ahead of a U.S. Commerce Department report set for release on Friday.