Debt collection

The Consumer Financial Protection Bureau is expected to unveil a proposal on July 28 that would regulate debt collection practices.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

Fannie and Freddie regulator's first report on NPL sales shows more borrowers avoid foreclosures when their loans are sold to investors.

Debt collection complaints fell in May, and the average of complaints from March through May also dropped, according to the Consumer Financial Protection Bureau’s latest monthly complaint report.

The U.S. Supreme Court on Monday allowed a class-action lawsuit against Encore Capital Group Inc. to proceed, declining to hear the debt-buying giant's claim that such companies should be protected from state laws barring money-lending at unreasonably high interest rates.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.

In a setback for the U.S. consumer finance industry, the Supreme Court said Monday that it will not review a lower court's decision that bolstered the ability of states to enforce bans on high-cost lending.

A libel lawsuit against a Pennsylvania newspaper and three reporters will continue following a ruling by the Pennsylvania Superior Court. A judge brought the suit following a fake courtroom debt collections case.

Counties that had high uninsured rates prior to the implementation of the Affordable Care Act have seen per capita collection balances fall if their state expanded Medicaid.

WASHINGTON — Banks in states with legal marijuana businesses may warm up to them as customers if an amendment to a Senate appropriations bill becomes law.