Debt collection

The Consumer Financial Protection Bureau is concerned that some mortgage brokers may be shifting to the "mini-correspondent" lender model under the mistaken belief that identifying themselves as such will automatically exempt them from consumer protection rules affecting broker compensation.

Consumer spending slowed in June, but remained strong in several sectors, according to First Data Corp., a global payment technology and services firm.

The operators of the scheme the falsely promised to help consumers get loans, but instead used personal financial data to take money from bank accounts without consent, have settled FTC charges.

Amazon.com is accused in a lawsuit filed Thursday of billing customers millions of dollars in charges racked up unknowingly by children.

The percentage of U.S. consumers who are late on their loan payments remained at near-record lows in the first quarter, according to a new report by the American Bankers Association.

The Texas-based lender, charged with various illegal debt collection tactics, has responded to the action.

Australian financial authorities have updated a publication that is partly geared to ensuring collection activity is handled in keeping with the country's consumer protection laws.

A debt collection telephone scam in West Virginia is targeting consumers by summoning them to court over unpaid credit card accounts - debt that in most cases apparently does not exist.

Overall U.S. consumer borrowing, including credit card borrowing, increased in May - primarily the result of Americans taking out more loans to buy cars.

The Consumer Financial Protection Bureau on Tuesday clarified that when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering its' Ability-to-Repay rule.

FICO, a predictive analytics and decision management software company, and Kaggle, a firm that runs predictive analytics competitions, announced that FICO will host Kaggle competitions in the FICO Analytic Cloud.

The arrest of a Russian man who is accused of hacking into U.S. retailers' computer systems to steal credit card data has sparked claims from Russian authorities Tuesday that the U.S. violated a bilateral treaty.

Collection law firm Pressler and Pressler violated the Fair Debt Collection Practices Act by not conducting a "meaningful review" of a collection action filed against a consumer, a U.S. district judge has ruled.

The plaintiff seeks class-action status, alleging World Acceptance misled investors and failed to disclose unfavorable business facts.

The Federal Trade Commission added new charges of mobile cramming to a complaint filed against an operation that allegedly sent millions of unwanted text messages and robocalls to consumers.

The total number of new bank-issued credit cards in Q1 is 11.3 million, a six-year high and an increase of 17.2% from the year-ago period, according to the latest Equifax National Consumer Credit Trends Report.

Complaints filed with the Consumer Financial Protection Bureau, along with most consumer statute lawsuit filings, dropped in May.

Idaho's Payday Loan Act, designed to dictate how much payday lenders can give borrowers, went into effect Tuesday.

T-Mobile USA Inc. was charged Tuesday with making hundreds of millions of dollars by placing charges on phone bills for purported "premium" subscriptions that, in many cases, were bogus charges and never authorized by customers.

A U.S. district court has halted a Georgia-based operation from using threats and lies to collect $3.5 million in phantom payday loan "debts" that consumers didn’t owe.