Debt collection

The Consumer Financial Protection Bureau issued an enforcement action against a debt collection agency that allegedly threatened borrowers with criminal prosecution and jail time if they failed to pay extra fees for writing bounced checks.

The Consumer Financial Protection Bureau issued an enforcement action against a debt collection agency that allegedly threatened borrowers with criminal prosecution and jail time if they failed to pay extra fees for writing bounced checks.

WASHINGTON — Large mortgage servicers continued to shed delinquencies as overall loan performance improved in the fourth quarter, the Office of the Comptroller of the Currency said Friday.

The National Foundation for Credit Counseling's acquisition, announced Monday, will create the largest national nonprofit network of certified student loan counselors.

CardFlex Inc. and its principals have settled charges that they illegally processed more than $26 million in consumer charges on behalf of a company called I Works.

A federal court has halted the operations of a company that calls itself "FTC Credit Solutions." The company allegedly used false affiliation with the FTC to market bogus credit repair services to Spanish-speaking consumers.

The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt.

Wells Fargo will close its home-lending servicing office in Milwaukee and cut 1,000 jobs, saying fewer homeowners are falling behind on payments and seeking help keeping their homes.

A nationwide and cross-border crackdown on auto sales, including loan modifications, has included 252 enforcement actions.

Midland Credit Management Inc. reached a settlement with the New York City Department of Consumer Affairs related to an investigation of the company’s collection practices that started in 2012.

The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt.

The credit card market gained strength in last year’s third quarter, with more new accounts and higher monthly purchase volumes across all risk categories, according to the American Bankers Association’s latest Credit Card Market Monitor.

The Public Prosecution Service of Canada has issued a notice seeking collection agencies to pursue a $136 million backlog of delinquent court fines.

WASHINGTON — After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products.

After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products

March Madness office pools are in full swing. While sports analysts provide ample entertainment, their predictions have time and again forced me to shell out to my victorious colleagues. For this reason, I shut out the chatter and focus on the stats.

A mortgage relief operation has settled Federal Trade Commission charges that they illegally charged upfront fees for services they falsely promised would reduce consumers’ mortgage interest rates or monthly payments.

The news that the three largest credit bureaus will reform their practices has been hailed as an important step in improving credit-report accuracy. But while the procedures offer greater protection and more transparency, will they truly bring about a significant decline in serious reporting errors?

European banks plan to sell $109 billion of bad debt in 2015 to reduce costs and rebuild their balance sheets, according to a PricewaterhouseCoopers LLP report.

Ontario Systems has expanded its Compliance Consulting Services to offer an enhanced scoring model called OntarioComply that analyzes more than 225 compliance obligations.