Debt collection

The new normal in consumer statute lawsuit numbers appears to be an increase in Telephone Consumer Protection Act (TCPA) filings and a decrease in both Fair Debt Collection Practices Act (FDCPA) cases and Fair Credit Reporting Act (FCRA) filings, according to Grand Rapids, Mich.-based data firm WebRecon LLC.

As if rising mortgage rates aren’t scary enough, some analysts are pointing to a lurking threat to housing: “vampire” properties.

An estimated 48,000 foreclosures were completed in the U.S. in August, down from 72,000 in August 2012, a decrease of 34%, reports CoreLogic.

Consumer delinquencies rose a bit in a range of loan categories in the second quarter ended June 30 as a sluggish economy weighed on borrowers' ability to pay down debt, the American Bankers Association reported on Tuesday.

A legal case involving a default on an Internet payday loan was settled Monday when the Fifth Circuit Court of Appeals ruled the statute of limitations on bringing a Fair Debt Collection Practices Act (FDCPA) case starts when a consumer is notified of the violation rather than when a company takes the action.

Alabama Attorney General Luther Strange is warning state residents of recurring scams involving callers being asked to send money to pay a debt or as a fee to receive prizes or merchandise.

The Consumer Financial Protection Bureau on Thursday fined Meracord, a payment processor, for helping collect illegal debt-settlement fees.

Arkansas Attorney General Dustin McDaniel's office is suing companies believed to have colluded to offer illegal payday loans online while claiming to be affiliated with a Native American tribe to avoid legal action.

More than $5.4 million will be mailed to consumers and businesses who were victimized by a massive fraudulent operation that placed unwanted charges on their telephone bills.

While the statistics seem grim, there are many reasons why banks should still enter the student loan market.

New York Attorney General Eric Schneiderman‘s office has reached settlements with five companies charged with violating the state’s usury and licensed lender laws through the collection of payday loans.

While lawsuits citing violations of the Fair Debt Collection Practices Act (FDCPA) fell in August on both a monthly and yearly comparison, Telephone Consumer Protection Act (TCPA) lawsuits are rising fast, according to data from U.S. district courts.

Two Ohio tax service store managers have been indicted on federal fraud charges related to tax returns they prepared in 2011. The tax and loan scheme cost the government more than $250,000.

A federal court has halted a scheme involving a non-existent money-lending service that allegedly conned more than $6 million from U.S. and Canadian consumers.

A Glendale, Calif.-based owner of two collection agencies will pay $1 million to settle Federal Trade Commission charges that his employees used text messages to try collecting debts - without disclosing they were debt collectors.

A New Jersey woman has sued two collection companies in a class-action case alleging consumer fraud over allegations they misled Victoria's Secret cardholders about interest on debts.

With demand for autos reaching a nearly six-year high, consumer spending was expected to rise in August for a fourth consecutive month, economists said before reports this week.

Consumers who were duped in a fraudulent telemarketing scheme operated by JPM Accelerated Services will be getting refunds from the Federal Trade Commission.

Consumers in financial distress are increasingly placing more value on paying their mortgages than their credit cards, a reversal of the trend observed during the housing downturn, a TransUnion study found.

Ohio Attorney General Mike DeWine announced late last week that nearly $2 million has been returned to local governments through his Local Government Collection Services Program.