Darren Waggoner
Chief EditorDarren Waggoner is chief editor of Collections & Credit Risk
Darren Waggoner is chief editor of Collections & Credit Risk
Local government agencies may no longer lower a driver's credit score because of unpaid traffic tickets or parking citations, according to a policy the three major credit bureaus agreed to in a legal settlement with 31 state attorneys general.
U.S. Bancorp will pay $10 million while Banco Santander settled for $3.4 million following missteps in how they handled earlier orders from regulators to fix faulty foreclosure practices, according to the Office of the Comptroller of the Currency.
Participants in an alleged credit card laundering scheme have agreed to settle Federal Trade Commission charges that they illegally helped provide access to payment networks, thereby enabling scammers to place bogus charges on consumers credit cards.
Student Financial Aid Services Inc. is accused in a complaint filed Thursday by the Consumer Financial Protection Bureau of charging families for help in filling out the Free Application for Federal Student Aid.
More than half of the value of B2B receivables 90 days or more overdue were written off as uncollectable by businesses in the U.S., Canada, Mexico and Brazil, according to the latest Atradius survey of B2B suppliers in those countries.
Fair Isaac Co. revealed Thursday that its revamped credit score model will not weigh medical debt as heavily as previous versions, a key change given that medical debt accounts for nearly half of all unpaid collections on consumers' credit reports.
While rent represents the biggest expense each month for many consumers, the payments rarely are reported to credit bureaus, meaning they don't help people improve their credit scores.
Mississippi Attorney General Jim Hood's office sued credit reporting giant Experian Information Solutions, alleging errors in the company's data and regular violations of consumer protection laws.
WASHINGTON Lawmakers appear increasingly concerned about issues related to student lending, including the possibility that the record level of student loan debt could end up damaging the economy.
Two of the largest consumer debt buyers on Thursday agreed to halt lawsuits against borrowers and pay fines to settle allegations they violated New York law in pursuing debtors.