Debt collection

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.

A federal class-action lawsuit alleges credit bureau TransUnion illegally charges $10 before it places security freezes on the files of people who are dealing with identity theft.

The city of Yonkers, N.Y., has amended its Consumer Protection Code to include revised requirements for debt collection agencies.

U.S. Sen. Sherrod Brown, D-Ohio, announced his ongoing co-sponsorship of legislation aimed at allowing people with outstanding student loan debt to refinance at the lower interest rates offered to new borrowers. The measure has resurfaced in the 114th Congress.

Thirteen Minnesota hospital systems reported a bad-debt increase of $15 million between 2013 and 2014 even as charity care costs - reported by 10 hospital systems - fell by about $37 million in the same period, according to an analysis by the Minneapolis Star Tribune.

Equifax Inc. and Zoot Enterprises announced Monday plans for the release of Mobility Plus, an end-to-end service that leverages Equifax data and Zoot decisioning technology to ease the mobile account opening process while helping to minimize fraud risk.

An Illinois federal court dismissed a Fair Debt Collection Practices Act case that involved a collection account number being visible on an envelope containing a debt collection letter. The decision goes against a high-profile collection case ruling last year.

Unifund Group has acquired First Resolution Investment Corp., including all assets and an estimated 72,000 accounts with a face value of $1 billion.

WASHINGTON — The Consumer Financial Protection Bureau finalized a contentious policy Thursday allowing customers to describe their banking experiences more fully on the agency's complaint portal.

The National Foundation for Credit Counseling has received a grant award totaling $2.3 million from NeighborWorks America to support foreclosure prevention efforts through its Member Agencies.

The long-standing practice of banks and mortgage lenders paying real estate brokers and homebuilders for referrals could soon be coming to an end.