Debt collection

There was mixed news released Tuesday concerning homeowners facing financial difficulties.

New Jersey lawmakers are considering a bill requiring debt collectors to temporarily stop collection activity for victims of identity theft if they receive a written notice from the consumer.

Despite the House Financial Services Committee's passage of a bill to convert the Consumer Financial Protection Bureau's leadership structure from a single director to a commission, Democrats have largely opposed the bill.

A Pennsylvania company that enrolls more than 100,000 students at for-profit trade schools and colleges across the U.S. and Canada will pay $95.5 million to settle claims it illegally paid recruiters and exaggerated the career-placement abilities of its schools.

In a growing number of cash-strapped Southern Illinois counties, state’s attorney’s offices are securing contracts with third-party collection agencies to pursue delinquent court fines and fees – sometimes for violations that occurred decades ago.

A federal court has granted a request by the Federal Trade Commission to shut down a tech support scam that allegedly bilked consumers out of more than $17 million by pretending to represent Microsoft, Apple and other major tech companies.

Consumer credit markets continued their strong performance in Q3 with mortgage delinquency rates holding a trend of double-digit annual declines and auto loans and credit cards showing signs of strength through stable defaults and balance growth.

A class-action settlement filed late Thursday awarded $59 million to tens of thousands of New Yorkers who had their bank accounts frozen and wages garnished in an illegal collection scheme.

New York City landlords would be banned from checking credit scores to decide whether to rent to would-be tenants under a bill introduced in the City Council.

The Financial Accounting Standards Board has postponed the release of a rule to overhaul how banks calculate loan losses.