Debt collection

Everyone knows the proverb "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime."

The Consumer Financial Protection Bureau issued a proposal Wednesday aimed at improving the way that companies submit consumer credit card agreements to the bureau.

A contingent of former Corinthian Colleges Inc. students, backed by student advocates and more than a dozen Senate Democrats, has demanded that the U.S. Department of Education forgive thousands of federal student loans taken out by Corinthian students.

Officials in Elmhurst, Ill., a Chicago suburb, are looking at hiring a new collection agency to pursue overdue parking tickets and other delinquencies.

Consumer Financial Protection Bureau Director Richard Cordray discussed CFPB enforcement efforts and the pending rules for the debt collection industry, which are expected to be issued this year, during the National Association of Attorneys General meeting.

A complaint filed in district court by the Federal Trade Commission aims to stop an operation that has targeted consumers with outstanding payday loans, claiming they could help resolve those debts but then providing little or none of the financial relief promised.

A North Carolina newspaper published an editorial this week stating that state law, the Affordable Care Act and a series of articles published in 2012 has led nonprofit hospitals in North Carolina to become less aggressive in pursuing former patients who can’t pay their bills.

Student loan debt remains a pressing concern in the U.S. because of high balances and high rates of delinquencies and defaults. The issues have been discussed in recent blog posts by the Federal Reserve Bank of New York’s Liberty Street Economics team.

The credit card delinquency rate remained steady in Q4 compared with a year earlier, while total outstanding credit card balance increased 5%. The increase indicates record growth, the highest yearly jump seen since 2008, according to a TransUnion report.

A bill introduced in the New York State Senate would make it illegal for debt collectors and creditors to use social media when attempting to collect debts.

South Dakota officials are hoping the state legislature grants authority for the creation of a state office for debt collection, a proposal supporters believe could help bring in additional recoveries of up to $34 million in the next five years.

The Consumer Financial Protection Bureau will continue its work to ensure credit reports are fair and freely given to consumers, agency director Richard Cordray said Thursday.

More than 50 million consumers now have free and regular access to their credit scores through their monthly credit card statements or online, the Consumer Financial Protection Bureau reported Thursday.

It's taken about three years of experimenting, but Thomas Bloetscher says Regions Bank has started to crack the code on lending to people with scant credit histories.

Legislation to create an independent inspector general at the Consumer Financial Protection Bureau is circulating again.

Pennsylvania government agencies are not allowed to release someone's home address under the Right-to-Know Law without first making the person aware their address has been requested - thus giving them a chance to fight it, a state court ruled this week.

Consumers Union launched a campaign Wednesday asking the largest telephone companies to offer customers free tools to block robocalls.

New data reveals that mortgage delinquency rates have declined to 3.29% at the end of Q4 2014 among all age groups. This shift marks a 14% drop year-over-year from 3.84% in Q4 2013.

Americans increased their borrowing in the final three months of 2014 and, in a troubling sign, are wrestling more with student and auto loans, according to a study released Tuesday by the Federal Reserve Bank of New York.

ConServe, a Fairport, N.Y.-based accounts receivable management company, has promoted several employees to managerial positions and hired new personnel.