Debt collection

Consumer credit default data through January shows a slight upward move in default rates from lows experienced last year, according to Tuesday’s report by S&P Dow Jones Indices and Experian.

Massachusetts Attorney General Maura Healey has asked the Department of Education to forgive the school loans of hundreds of students from the state enrolled at Corinthian Colleges Inc., a for-profit company investigated by federal authorities for practices that left many students deeply in debt.

WASHINGTON — Bankers, technology CEOs and President Obama are throwing everything they have at countering the threat of cyber attacks, but based on a White House summit Friday on the issue, it's far from clear that it will be enough.

Three mortgage companies are facing regulatory action from the Consumer Financial Protection Bureau for misleading consumers with advertisements implying U.S. government approval of their products.

A lender has agreed to pay Pennsylvania consumers $8 million in restitution as part of a settlement to resolve claims it illegally provided loans.

The city of Eugene, Oregon has hired collection law firm Linebarger Goggan Blair & Sampson, based in Austin, Texas, to help collect past due parking fines.

Foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 119,888 U.S. properties in January, an increase of 5% from the previous month but still down 4% from a year ago, reports RealtyTrac, a company that tracks housing data.

Two new defendants have been named in a Federal Trade Commission case against a phony debt relief and credit repair scheme that allegedly deceived consumers about non-existent federal programs to pay off their bills and fix poor credit.

Ohio Attorney General Mike DeWine filed a lawsuit Wednesday against a Buffalo, N.Y., collection agency accused of impersonating regional government agencies and sheriff’s deputies attempting to collect debts.

An estimated 77 million Americans have a debt in collections, or about 35% of consumers with credit files or data reported to a major credit bureau, according to a joint study, which noted that the positive impact of collections is expected to increase.

WASHINGTON — In expansive comments, Consumer Financial Protection Bureau Director Richard Cordray provided new details Tuesday about proposals due soon from the agency while offering insights into an internal battle over easing a key mortgage rule. He only briefly touched on debt collection rules.

Many colleges partner with banks to offer their students special accounts through exclusive bank-school marketing arrangements. Unfortunately, the benefits afforded to students through these accounts are grossly overstated, while the potential harm the arrangements cause can be significant.

A sweepstakes operator is permanently banned from direct mail marketing and is liable for a $9.5 million judgment under a settlement with the Federal Trade Commission, which charged her with violating a previous court order by running a sweepstakes scam.

More than 100,000 potential plaintiffs can pursue class-action litigation accusing Leucadia National Corp. and a law firm of illegally winning default judgments in debt collection cases, a federal appeals court in New York ruled Tuesday.

New York resident Nadia Figueroa pleaded guilty Tuesday for her role in stealing customer data while employed as a JPMorgan Chase bank teller. The scheme netted $850,000.

A Switzerland-based firm on Tuesday acquired Akcelerant, a U.S.-based financial software provider active in the accounts receivable management space.

Consumer borrowing - including credit card balances, student loans and auto loans - increased in December, according to the Federal Reserve’s monthly consumer credit report.

A total of 952 members of the U.S. armed forces will receive $123.4 million from a settlement with five mortgage servicers announced Monday by the U.S. Justice Department.

The FTC has issued a report detailing recent collection industry enforcement actions. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB must submit annual reports to Congress on the Fair Debt Collection Practices Act.

The Consumer Financial Protection Bureau soon will release its first draft of regulations aimed at governing a wide range of short-term loans - including credit backed by car titles, some installment loans and often-criticized payday loan.