Debt collection

Using big data can help credit unions better understand which delinquent members have the assets to repay accounts in collections, saving CUs time and effort, and increasing the likelihood of repayment.

Rather than push for looser rules on robo-calls, the industry should focus on policy related to the channels consumers prefer: email and text messages.

Most recently Thomas Pahl worked on debt collection and credit reporting issues as a partner at Arnall Golden Gregory in Washington.

Jessica Rich, who joined the agency in 1991, is stepping down in mid-February, the FTC announced Tuesday.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

The newly installed chairman of the Federal Communications Commission voted against 2015 rules that largely rejected the banking industry's entreaties.

The Consumer Financial Protection Bureau on Wednesday warned about the risks of the online debt sales, alleging that sensitive personal and financial information is available in some instances to any visitor to a debt marketplace website.

The Consumer Financial Protection Bureau and the New York Attorney General filed a lawsuit Wednesday against two New York debt collectors for deceiving and harassing millions of consumers to pay inflated debts.

The piling on at Wells Fargo has reached an unprecedented level, even for a bank. Fifteen investigations are underway into Wells' phony account openings. Experts are quantifying the damage to Wells' reputation and what the bank can do going forward to repair it.

Two San Francisco supervisors on Tuesday introduced a resolution that would "end all business with Wells Fargo," in response to the fake account scandal and other practices that have harmed consumers.

The Consumer Financial Protection Bureau on Monday fined a large auto title lender $9 million for failing to disclose the terms and costs of its title loans in three states, and for illegally exposing consumers' information to their employers.

The Consumer Financial Protection Bureau filed a lawsuit this week against a Van Nuys, Calif., credit repair company for deceptively marketing its services and charging consumers illegal fees.

Blue Hills Bancorp in Norwood, Mass., expects to record a third-quarter chargeoff tied to a commercial borrower that may have committed fraud.

A single paragraph in a lawsuit filed by the Consumer Financial Protection Bureau is sparking fears by third-party payment processors that the agency is quietly and significantly expanding its authority over the industry.

The Consumer Financial Protection Bureau added its voice Tuesday to a chorus of other regulators in calling for sustainable foreclosure relief when the Home Affordable Modification Program expires at yearend.

Banks should assess a customer's full financial picture before deciding to sell a debt to a third-party collection agent.

The Consumer Financial Protection Bureau's debt collection plan is likely to put pressure on banks and first-party creditors to provide better documentation on consumer debts that get transferred to debt buyers and collectors. While the proposal does not cover banks and first-party creditors, some experts said banks will be on the hook for providing better information.

The Consumer Financial Protection Bureau released a plan Thursday to overhaul the debt collection industry that would limit collection attempts to six per week and require confirmation of a debt before contacting consumers. The plan, however, is not yet directed at banks and credit card companies.

More than 40% of consumers with complaints about debt collections say they were asked to pay debts they didn't owe. There are a host of reasons for the problem, including inscrutable legal disclosures.

The Consumer Financial Protection Bureau is set to unveil a sweeping proposal on debt collection practices this week that would force banks and credit card companies for the first time to comply with federal restrictions. It said the plan would put an end to some of the most egregious practices in the $13.7 billion debt collection industry.