Debt collection

Outstanding consumer credit, a measure of nonmortgage debt, rose by a seasonally adjusted $13.4 billion in April from March, according to the Federal Reserve.

Walk down your average street in this country, and you'll find it easier to take out a loan than buy a coffee. With 22,000 payday lending locations in the U.S., Starbucks would have to grow three times in size to compete. Since the 1990s, annual loan volume has bloated to an estimated $27 billion. That's a lot of coffee.

Debt collectors are facing increasing pressure from the CFPB through aggressive regulation by enforcement. In the past few years, the CFPB has entered into consent orders with debt buyers, banks and other lenders. The orders limit debt sales, increase data requirements and forbid various collection practices.

The FTC's annual report on enforcement actions involving the Electronic Fund Transfer Act, the Truth in Lending Act and the Consumer Leasing Act highlights seven new or ongoing cases involving EFTA issues in 2015.

Illinois owes $3 million to the FBI for processing fingerprints and conducting background checks for professional licenses and permits. The debt is old enough that it could be turned over to the federal government's collection agency - the Treasury Department.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

U.S. card issuers lose $10.9 billion each year to card fraud, according to research released Tuesday by LexisNexis Risk Solutions.

The Better Business Bureau of Central New England is reporting complaints from consumers about fake debt collection calls that include threats of arrest and wage garnishment if bills are not paid.

The CFPB filed a lawsuit Monday against the payment processer Intercept Corp. and its two top executives for allegedly enabling clients to withdraw millions of dollars' worth of illegal charges from consumer bank accounts.

DBA International released a statement late Monday responding to Sunday's episode of HBO's Last Week Tonight, which focused on the debt-buying industry.

HBO's Last Week Tonight on Sunday took a detailed look at the business of debt collection and debt buying, then forgave nearly $15 million in medical debt.

Two debt buyers have entered into consent judgments with the New York Department of Financial Services for allegedly violating the Fair Debt Collection Practices Act and New York Debt Collection Procedures Law.

Credit quality can only go downhill from here. Speaking at an industry conference Thursday, the heads of several big banks — including JPMorgan Chase, Bank of America and U.S. Bancorp — warned of looming deterioration in their loan books.

Alorica Inc., a customer service company, has acquired Expert Global Solutions, a call center operator that supports accounts receivable management firms.

A federal court jury in Utah delivered a verdict in favor of the FTC against three Utah-based firms and their owner, finding that they engaged in deceptive and unlawful telemarketing campaigns.

PRA Group Inc., a Norfolk, Va.-based debt-buying giant, announced Friday both the resignation of executive Neal Stern and a series of organizational changes.

The Consumer Financial Protection Bureau issued its long-awaited proposal Thursday to regulate payday, auto title and certain high-cost installment loans without a key provision that would have allowed banks to compete by offering their own small-dollar loans.

Access to credit helps unemployed consumers by giving them more time to find a new job with higher pay, according to research by economists from the University of Minnesota and Dartmouth College.

Fannie Mae announced it sold its third Community Impact Pool of non-performing loans to New Jersey Community Capital.

A legislative proposal has surfaced in Congress that seeks to disrupt much of the U.S. system of reporting and using credit information, including potentially major changes in credit scores.