Debt collection

The FTC announced that judges for its Robocalls: Humanity Strikes Back contest selected a first place winner for the $25,000 cash prize for building a mobile app that blocks and forwards robocalls to a crowd-sourced honeypot.

Fannie Mae and Freddie Mac have a regulatory mandate to shrink. But that's easier said than done, given the government-sponsored enterprises' outsized presence in the mortgage industry, as their latest quarterly results show.

Officials in Mahanoy City, Pa. will direct delinquent garbage accounts to a new collection agency that will charge people an added 25% late fee on all overdue accounts but will collect no additional fees from the city.

Minnesota lawmakers plan to introduce legislation next year to curb payday lending after a previous proposal failed that would have limited the number of loans consumers can take out to four.

DBA International, an association representing debt buyers, hosted its 2015 Executive Summit this week in Park City, Utah.

Increases in credit card and auto loan balances were not enough to keep overall household debt balances from remaining flat since the first quarter, according to the Federal Reserve Bank of New York’s Household Debt and Credit Report.

The foreclosure crisis is receding, but it has having an enduring impact on lenders' risk appetites.

The New Jersey Senate passed a bill Thursday that would require collection agencies to stop pursuing identity theft victims until the debt is sorted out.

The operation is charged with illegally selling loan applicants’ financial information to a scam operation that took millions of dollars by debiting consumers' bank accounts and charging credit cards without consent.

The Federal Communications Commission fined Travel Club Marketing $2.96 million in what the agency is calling the largest robocall punishment to date.

There are many concerning aspects of the Consumer Financial Protection Bureau's methods, not the least of which include its proclivity to regulate via enforcement and its reliance on overly broad and ambiguous languageto support its activities.

Debt collection giant PRA Group reported growth in revenue, net income and cash collections for the second quarter.

The appetite for credit unions to offer mortgage loans appears to be greater than other financial institutions, according to new TransUnion research.

The financial services industry is engaged in a rousing discussion about credit scoring with alternative data.

Mortgage lender PHH Corp. on Friday received a stay of the CFPB's $109.2 million judgment for alleged violations of the Real Estate Settlement Procedures Act.

In Mexico, debt collection harassment complaints have more than tripled in the first half of this year compared to the same period a year ago.

A group of nonbank small-business lenders unveiled a self-regulatory pledge Thursday designed to bring greater clarity and consistency to their industry's pricing.

WASHINGTON — Bankers are fighting back against a proposal by the Department of Education that would restrict how universities disburse federal student loan funds, calling it a "large-scale incursion" into the banking sector that goes beyond the department's statutory authority.

A New York City law designed to prevent collection law firms from engaging in abusive practices does not infringe on the state's authority to regulate the profession, according to a ruling this week.

Senate Democrats are accusing the Education Department of conducting a deeply flawed review of whether agency contractors cheated military service members on their federal student loans.