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A recent story in American Banker reported that at least three banks are planning to launch new small-dollar loans products after the Consumer Financial Protection Bureau's payday lending rule becomes effective.
May 17 -
The San Jose (Calif.) City Council is reviewing the best way to recover the overdue fines without also chasing people away.
May 17 -
The Supreme Court on Monday ruled that private attorneys hired by states are not in violation of the Fair Debt Collection Practices Act when using official letterhead to collect a debt. The case has been watched closely by financial institutions for its interpretation of false, deceptive or misleading practices.
May 16 -
Two Ohio law firms did not use illegal tactics when they mailed debt collection letters on stationery bearing the name of Ohios attorney general, according to a unanimous Supreme Court ruling Monday.
May 16 -
Complaints against debt collectors filed with the Consumer Financial Protection Bureau dropped last month from 3,505 complaints in March to 2,816 complaints in April, a 19.7% decrease.
May 16 -
The May issue of The Atlantic contains an insightful story that puts a face to one of the biggest economic issues facing this country: the erosion of household savings in America and the resulting traumatic impact on the middle class.
May 13 -
Real Time Resolutions Inc. has acquired Account Outsourcing Groups call center in Jamaica. Financial details of the deal have not been disclosed.
May 13 -
A new survey indicates more future college students plan to take out loans for their education and their parents are more willing to help them with the costs.
May 13 -
The state of Illinois has spent more than $900 million on penalties for not paying its bills on time over the past six years, according to the Chicago-based government watchdog group, Civic Federation.
May 12 -
The total balance of write-offs year-to-date through March for first mortgages, home equity lines of credit and home equity loans is $9.5 billion, a nine-year low for Q1 and a year-over-year decrease of 22.7%, according to Equifax's National Consumer Credit Trends Report.
May 12