Debt collection

A decline in overall credit risk can be attributed to a national drop in credit card, auto loan and mortgage delinquency rates, which are at near historic lows, according to TransUnion officials.

ACA International's Research Department reviewed 14,328 complaints received by the Consumer Financial Protection Bureau to determine trends, provide an analysis of the information behind the numbers and share recommendations for improvement.

Apollo Credit Agency Inc., a collection agency based in Lakewood, Colo., and general manager James Saddoris are facing a lawsuit in Colorado for allegedly failing to pay clients on accounts placed for collection.

The Federal Trade Commission on Wednesday published its annual summary of collection enforcement activities, stating in has brought or resolved nine collection cases in the past year.

President Obama sent Congress a $3.9 trillion budget for 2015 that includes increased spending for employment and education - and language giving the Treasury Department the ability to call delinquent consumers on their cell phones using autodialers.

U.S. consumers spent an average of $87 per day last month, a strong rebound from $78 in January, which had been the lowest estimate in 14 months, according to Gallup.

The former owner of a Minnesota collection agency pleaded guilty Monday in Minnesota district court to one felony count each of theft and theft by swindle, according to the Dakota County (Minn.) Attorney's Office.

Borrowers are taking on higher credit balances after dropping more than $1.5 trillion in mortgage debt since the financial crisis, according to a report from Equifax.

A group of marketers agreed to settle Federal Trade Commission charges that they took part in a scheme that bombarded consumers with tens of millions of spam text messages that lured consumers with phony gift card offers, and then directed recipients to deceptive websites.

The Consumer Financial Protection Bureau is calling on the largest U.S. credit card companies to make credit scores and other related content freely available to customers.

The Federal Trade Commission has sued a group of affiliated collection agencies and their owners for using the words "Federal," "American," "U.S.," or "State" in their names and for collection tactics such as threatening to arrest customers.

Lowell Group, a purchaser of non-performing consumer debt portfolios in the United Kingdom, is working on a deal aimed at slashing its cost of borrowing.

Louisiana's efforts to create a central collections office to pursue more than $1 billion in debts owed to the state government could take several years to complete, officials said.

Banks at risk of failure fell for the 11th straight quarter to nearly half the high mark of March 2011, according to the Federal Deposit Insurance Corp.

The Federal Trade Commission is closing a case against debt buyer Security Credit Services and Jacob Law Group that involved violations of both the Fair Debt Collection Practices Act and FTC Act.

A payday lending reform bill in Utah passed a vote in the state's House, by a 69-4 vote, and moves to the full Senate after the Senate Business and Labor Committee unanimously endorsed it Thursday.

The CFPB sued an Indiana-based college for predatory lending, the agency's first action in the for-profit college industry. Some students did not realize they had a private loan until they began getting collection calls, the lawsuit states.

A bill aimed at altering the Consumer Financial Protection Bureau's structure and limiting its powers to regulate the consumer finance industry gained approval from the House of Representatives on Thursday but is unlikely to pass muster in the Senate.

Debt collection ranks second in the Federal Trade Commission's annual list of consumer complaints, according to the report released Thursday.

An estimated 782 different collection agencies and creditors were sued in January under consumer statutes, including the Fair Debt Collection Practices Act, the Fair Credit Reporting Act and the Telephone Consumer Protection Act.