Debt collection

There are many concerning aspects of the Consumer Financial Protection Bureau's methods, not the least of which include its proclivity to regulate via enforcement and its reliance on overly broad and ambiguous languageto support its activities.

Debt collection giant PRA Group reported growth in revenue, net income and cash collections for the second quarter.

The appetite for credit unions to offer mortgage loans appears to be greater than other financial institutions, according to new TransUnion research.

The financial services industry is engaged in a rousing discussion about credit scoring with alternative data.

Mortgage lender PHH Corp. on Friday received a stay of the CFPB's $109.2 million judgment for alleged violations of the Real Estate Settlement Procedures Act.

In Mexico, debt collection harassment complaints have more than tripled in the first half of this year compared to the same period a year ago.

A group of nonbank small-business lenders unveiled a self-regulatory pledge Thursday designed to bring greater clarity and consistency to their industry's pricing.

WASHINGTON — Bankers are fighting back against a proposal by the Department of Education that would restrict how universities disburse federal student loan funds, calling it a "large-scale incursion" into the banking sector that goes beyond the department's statutory authority.

A New York City law designed to prevent collection law firms from engaging in abusive practices does not infringe on the state's authority to regulate the profession, according to a ruling this week.

Senate Democrats are accusing the Education Department of conducting a deeply flawed review of whether agency contractors cheated military service members on their federal student loans.

Council members in Eclectic, Ala., unhappy with the collection agency that pursues debts owed to the town’s Emergency Medical Services division, voted this week to hire Simmons Collection Agency instead.

WASHINGTON — The Consumer Financial Protection Bureau has ramped up its push for the mortgage industry to switch to an electronic closing process after results from a pilot program showed consumers favored it over in-person mortgage closing.

Gallup has settled a Telephone Consumer Protection Act class-action lawsuit concerning an alleged violation of the law through use of an autodialer to call consumers. Gallup will provide a $12 million settlement fund.

The operators of a credit repair scheme that allegedly tricked Spanish-speaking consumers into paying thousands of dollars each to improve their credit have settled FTC charges.

A payday lender that allegedly collected money illegally faces a lawsuit filed Tuesday in federal court by the Consumer Financial Protection Bureau.

Court rulings in the past year are sending conflicting messages about whether a debtor's account number visible on a debt collection envelope violates the Fair Debt Collection Practices Act.

A three-year investigation by the Idaho Attorney General’s office into allegations that executives with a hospital misused charitable assets has ended after the two sides reached an agreement.

WASHINGTON — In the wake of Benjamin Lawsky's departure as head of the New York Department of Financial Services two months ago, there were some in the banking industry that predicted the agency might back away from being the outspoken, aggressive one it had become during his tenure.

Millennials are beginning to take on more auto and student loans but are lagging in their use of credit cards and are slower to build some types of credit compared to Generation X and Baby Boomers, a report from Experian reveals.

The appearance of consumers’ account numbers on the outside of envelopes containing letters from collection agencies does not violate the FDCPA, two New York federal judges ruled in separate cases.