Debt collection

The Consumer Financial Protection Bureau’s student loan ombudsman has shared concerns over predatory practices in student loan repayment programs, comparing them to those that led to the mortgage crisis several years ago.

The Consumer Financial Protection Bureau on Monday finalized several changes to its mortgage rules to help promote responsible lending by small creditors, particularly in rural and underserved areas.

Despite pledges last year to move "aggressively" to implement new credit scoring models at the government-sponsored enterprises, the Federal Housing Finance Agency's effort appears to have stalled.

Consumer litigation is going through some wild swings in 2015, according to the latest lawsuit numbers from U.S. district courts, but all key comparisons are tracking ahead of last year.

Kelly Cochran has vetted every rule that comes out of the agency, making her one of the most influential people in the financial services industry.

Credit-card industry executives always insist that they face strong competition. But the battle between the nation's largest card issuers appears to have intensified in recent months, and it shows no signs of waning.

Consumers who lost money in an online operation that illegally debited their bank accounts when they sought payday loans are being mailed checks this week totaling $1.5 million.

The Consumer Financial Protection Bureau has appointed new consumer finance experts from outside the federal government to its Consumer Advisory Board, Community Bank Advisory Council and Credit Union Advisory Council.

A federal grand jury has indicted the founder of a once-booming Indiana collection agency on felony bank fraud, wire fraud and bankruptcy card charges.

The county reportedly has written off more than $150,000 in debt and has had no success hiring an agency or law firm.

A total of 109,561 U.S. properties had foreclosure filings - default notices, scheduled auctions and bank repossessions - in August, down 12% from July and down 6% from a year ago.

The results of a nine-year study of consumers enrolled in debt settlement programs show consumers realize financial benefits and have a higher probability of success since regulatory reforms took effect in 2010.

Community banks will soon have a new way to lend to each other, though it is unclear how eager they might be to participate.

The operators of a fraudulent collection scheme will be banned from the collection business under a settlement with the Federal Trade Commission, resolving charges that they illegally processed more than $5.2 million in payments for phony debts.

Ontario Systems has been acquired by private equity firm Arlington Capital Partners, the two companies announced Wednesday.

Student loan default rates have doubled in the last decade and new research indicates the bulk of the increase is tied to the number of non-traditional borrowers attending two-year colleges and for-profit schools.

The Consumer Financial Protection Bureau has temporarily shut down a nationwide firm that promised consumers legal help with debt relief. The firm allegedly took $67 million in upfront fees.

The Better Business Bureau of Central and South Alabama is warning consumers about a collection law firm that allegedly is telling people to pay or go to jail.

Consumer credit default data for August showed small increases in numerous default rates, according to the S&P/Experian Consumer Credit Default Indices released Tuesday.

A growing number of experts agree: Complaints against debt collectors are down, and debt collectors still outrank other industries in complaint resolution.