Debt collection

A Georgia-based debt collection law firm and a debt buyer didn't violate federal law by misleading consumers into believing that they would be sued if they didn't pay the amount they owed, the 2nd Circuit U.S. Court of Appeals has ruled.

The Federal Trade Commission, hoping to strengthen cross-border cooperation on anti-spam and Do Not Call enforcement, signed a memorandum of understanding with the Canadian Radio-Television and Telecommunications Commission.

Two senior GOP lawmakers are warning regulators against preferential treatment for housing advocates and nonprofits in sales of nonperforming, government-guaranteed mortgages.

VantageScore Solutions announced Thursday the availability of a new white paper analyzing consumer score migration over time and how lenders can use these migrations to optimize decisioning.

The Consumer Financial Protection Bureau on Wednesday issued an advisory for banks and credit unions on how to prevent and respond to elder abuse.

A year ago, the U.S. Department of Education announced it would be severing ties with five private collection agencies. All of them are currently doing work for the government agency.

The Consumer Financial Protection Bureau has implemented a new rule that broadens the ability of lenders in rural and underserved areas to originate qualified mortgages.

The CFPB released an annual report Tuesday that revealed service members have been submitting debt collection complaints at nearly twice the rate of non-military consumers.

West Virginia Attorney General Patrick Morrisey’s office has reached a $19.7 million settlement with Cavalry Portfolio Services in a six-year-old case where the debt collection firm faced accusations of pursuing debts in West Virginia without a license to do so.

The Consumer Financial Protection Bureau faces a tough balancing act as it seeks to issue a proposal to rein in high-cost payday loans.

The Federal Trade Commission cautioned the collection industry to avoid buying, selling or collecting any alleged payday loan debt portfolios serviced by AMG Services.

A red light camera company is settling a lawsuit with thousands of drivers in New Mexico. The drivers claimed the company and its collection agency hassled them non-stop after voters in the city canceled the program in 2011 and the cameras were removed.

Last year marked another strong year for the auto loan market as originations increased compared to 2014, while the mix of loans across the entire credit spectrum held for the fourth year in a row, according to Equifax.

The Federal Reserve Board has terminated enforcement actions issued in 2010 against American Bank of Baxter Springs in Kansas and CB Financial in Wilson, N.C., and issued one against Hazard Bancorp in Kentucky.

A California federal judge has ordered debt relief company Morgan Drexen Inc. to pay the Consumer Financial Protection Bureau more than $173 million to resolve an August 2013 lawsuit claiming the company collected illegal upfront fees for debt settlement service and ran deceptive advertisements.

An Illinois appeals panel found that collection agency HBLC may have broken federal collection laws by suing a man over a contested debt after the statute of limitations had expired.

Payday loan customers in Alabama would pay less under a bill that won approval Wednesday from the Alabama House Financial Services Committee.

Rising delinquencies in subprime auto lending predictably have drawn comparisons to the mortgage meltdown of nearly a decade ago.

A lawsuit concerning how the court system in Biloxi, Miss. treats poor people who can’t pay fine won’t continue after the city, the American Civil Liberties Union and a private probation service agreed Tuesday to settle the case.

Signs of the subprime mortgage crisis were obvious long before the 2008 meltdown. Some recognized the danger but most dismissed the threats, arguing that a decline in home values would never happen. Other signs of distress went unnoticed or unappreciated.