Debt collection

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.

John McNamara, chief marketing officer at LiveVox Inc. and a former chairman and speaker for key Collections & Credit Risk conferences, will be leaving LiveVox to take a role with the Consumer Financial Protection Bureau.

Dollar collections dropped and the amount of credit extended also slipped. Accounts placed for collection fell as well, a sign more creditors are falling too far behind to ignore, sparking more collection activity.

The U.S. Supreme Court declined Monday to hear an appeal from Equifax Inc. involving what it considered an adverse tax ruling in Mississippi.

A U.S. District Court has dismissed a class-action lawsuit citing Telephone Consumer Protection Act violations related to a series of autodialed collection calls made by a hospital provider to an individual's cell phone.

The city council in Victorville, Calif. has passed a 45-day moratorium on permits for payday lenders as it explores the risks the short-term loan businesses pose to the city's low-income population.

Zombie foreclosures tend to erode local government tax revenue and have been commonly cited by local officials nationwide as a key reason for rising tax delinquencies prompting the increased use of third-party collection agencies.

A new report reveals that an estimated 12 million Americans choose payday loans each day to avoid outcomes like long-term debt but that the average loan requires a repayment of more than $400 in two weeks, when the average borrower can only afford $50.

The Account Control Technology Foundation, a non-profit, charitable foundation established by the founders of Account Control Technology Inc., has announced the 50 winners of its college scholarships for 2014.

A community-banking organization on Wednesday told a House Agriculture Committee subcommittee that credit is plentiful for America’s farmers and ranchers and is being provided at rates near historically low levels.

While 96% of parents still see the value of a college education, 85% are very or somewhat worried that student loan debt will affect their child’s ability to buy a home, car or other large purchase after college.