Debt collection

Fifth Third Bank will pay $18 million to settle Consumer Financial Protection Bureau allegations it discriminated against black and Hispanic consumers by charging some people higher interest rates on auto loans.

Debt-buying giant Encore Capital Group officials announced Monday that the company is acquiring a controlling stake in Baycorp, one of Australia's largest debt resolution companies. Terms of the deal were not disclosed.

Officials with the Ohio attorney general’s collection-enforcement division report that approximately $34 billion in government debt owed by corporations and consumers is being pursued by 70 outside law firms and third-party agencies.

The CFPB is rewriting the rules for debt collection, and in the meantime fines and penalties are coming fast and furiously. Banks need to closely scrutinize every debt collector and debt buyer they do business with, or even bring collections back in-house, said attorney Joann Needleman.

Consumer spending gains in the second quarter helped the U.S. economy expand more than forecasted and may help the U.S. withstand a global slowdown, according to Commerce Department figures released Friday.

At a time when fintech companies and banks are struggling to draw more consumer interest in their apps, a Reno, Nev., startup is hoping to motivate underbanked consumers to pay bills, including overdue ones, via a friendly mobile experience.

The Consumer Financial Protection Bureau has struggled internally with how to end potential discrimination in auto lending, including debating whether it should cite a large lender in the hope of effectively ending the ability of partnering dealers to mark up loans with all lenders.

The banking industry continues to sit on a mountain of problematic loans seven years after the onset of the financial crisis.

The man allegedly used his Baton Rouge, La.-based credit repair company to dupe his victims.

The Consumer Financial Protection Bureau has released its latest monthly consumer complaints snapshot, which highlights mortgage complaints.

The Consumer Financial Protection Bureau’s student loan ombudsman has shared concerns over predatory practices in student loan repayment programs, comparing them to those that led to the mortgage crisis several years ago.

The Consumer Financial Protection Bureau on Monday finalized several changes to its mortgage rules to help promote responsible lending by small creditors, particularly in rural and underserved areas.

Despite pledges last year to move "aggressively" to implement new credit scoring models at the government-sponsored enterprises, the Federal Housing Finance Agency's effort appears to have stalled.

Consumer litigation is going through some wild swings in 2015, according to the latest lawsuit numbers from U.S. district courts, but all key comparisons are tracking ahead of last year.

Kelly Cochran has vetted every rule that comes out of the agency, making her one of the most influential people in the financial services industry.

Credit-card industry executives always insist that they face strong competition. But the battle between the nation's largest card issuers appears to have intensified in recent months, and it shows no signs of waning.

Consumers who lost money in an online operation that illegally debited their bank accounts when they sought payday loans are being mailed checks this week totaling $1.5 million.

The Consumer Financial Protection Bureau has appointed new consumer finance experts from outside the federal government to its Consumer Advisory Board, Community Bank Advisory Council and Credit Union Advisory Council.

A federal grand jury has indicted the founder of a once-booming Indiana collection agency on felony bank fraud, wire fraud and bankruptcy card charges.

The county reportedly has written off more than $150,000 in debt and has had no success hiring an agency or law firm.