Debt collection

A measure of consumer credit defaults released Thursday by S&P Dow Jones and Experian shows a slight downward movement.

A federal court has halted a sham operation that promised homeowners to help get their mortgages modified but instead allegedly stole their mortgage payments, thus ushering some deeper into foreclosure and bankruptcy.

The Consumer Financial Protection Bureau is preparing to take the next step in its quest to create new rules for the short-term credit market.

Lawsuits filed against debt collectors have been dismissed in two federal district courts with the decisions holding that filing proofs of claim in bankruptcy cases on time-barred debt is not actionable under the FDCPA.

ACA International is supporting legislation and policy changes designed to help stop "Operation Choke Point" - the program in which the FDIC and Department of Justice reportedly applied pressure to financial institutions to cut off services to certain licensed, legally operating industries.

A bill easing restrictions on the collection efforts of debt buyers won the endorsement of North Carolina's Senate Judiciary Committee in a voice vote Tuesday.

Regions Financial will pay a $7.5 million fine after the Consumer Financial Protection Bureau said it charged consumers illegal overdraft fees on checking and payday-loan-like accounts.

Student advocates and lawmakers are renewing calls for loan forgiveness after Corinthian Colleges’ announcement Sunday that it will close its remaining campuses.

Debt sales are broken. Brokers, buyers and sellers offer books of debt that may be double- or triple-sold, lack documentation, or even be illegally originated.

As a pawnbroker for over 26 years and a former president of the National Pawnbrokers Association, I am alarmed and dismayed by the recent wave of banks terminating their relationships with pawnbrokers.

Abandoned homes in New York City that are stuck in foreclosure proceedings jumped 38% rise in 2014. State officials are pushing for legislation to make banks and mortgage lenders more responsible.

Corinthian Colleges, the for-profit chain of colleges under fire in the last year for leaving students with unsustainable debt levels and lackluster job prospects, announced it's shutting down its remaining 28 campuses effective Monday.

In China, a new report from PwC, indicates banks are dealing with a surge in bad loans as a result of slowing economic growth.

Debt-buying giant PRA Group Inc., which purchases consumer debt from banks and other creditors, has named Deborah Cassidy as its chief information officer.

The Federal Trade Commission and the Office of the New York Attorney General will host an event on June 15, in Buffalo, N.Y. to discuss consumer protection issues with the debt collection industry.

Convergent Revenue Cycle Management Inc., a national healthcare revenue cycle management provider, has announced that Mark Schanck has been promoted to company president.

Navient Corp. released Q1 financial results on Thursday that include $830 million of student loan purchases, $300 million of common share repurchases and the acquisition of a new asset recovery and business process outsourcing firm focused on state and local public sector markets.

The owner of Green Tree Servicing LLC has responded to the settlement announced this week with the Federal Trade Commission and Consumer Financial Protection Bureau.

Hospital patients felt an increased financial burden in 2014 as medical costs rose while revolving credit became less available, according to a new report.

A national mortgage servicing company will pay $63 million to resolve FTC and CFPB charges that it harmed homeowners with illegal debt collection practices and loan servicing.