Debt collection

Strategies that help mortgage lenders get a handle on final Dodd-Frank Act implementation costs and better reach the next generation of homeowners will be among the hot topics discussed during the 2015 Mortgage Bankers Association's Annual Convention.

The Pew Charitable Trusts' Nick Bourke's recent observation that more competition in short-term credit would benefit consumers is correct. But in the relatively unregulated environment that existed before 2013, very few banks chose to enter this market.

A collection scam involving calls to consumers about alleged past payday loan debts has surfaced in Nebraska, just a week after a similar illegal operation was reported in Minnesota.

Fannie Mae’s latest sale of non-performing loans includes three pools of about seven thousand loans totaling $1.2 billion in unpaid principal balance.

A Georgia legislative panel hearing Thursday reviewed the issue of surprise billings for medical care, which can confound consumers and lead to difficult collection practices.

Consumer loan delinquencies fell sharply in the second quarter ended June 30, thanks to large drops in home loan-related delinquencies, according to the American Bankers Association.

Payday lenders in Alabama have issued 386,641 payday loans in the last two months, according to a database that started tracking the lending on Aug. 10.

An ACLU chapter sued Benton County, Wash., accusing it of sending people to jail or forcing them to toil on work crews if they fail to pay their court fines. The class-action case wants a ruling on the constitutionality of the county's collection strategies.

Minnesota’s Supreme Court ruled Wednesday that out-of-state payday lenders will have to follow the state’s strict lender law for Internet loans, rejecting an argument that the law is unconstitutional.

Consumer borrowing rose in August at the slowest pace in six months, reflecting a cooling in lending for student loans and autos, but still reached a record $3.47 trillion, according to Federal Reserve figures.

WASHINGTON — It may not be an outright ban on arbitration clauses, but the Consumer Financial Protection Bureau's impending proposal to enable more class-action lawsuits comes close.

Approximately 17.6 million people over the age of 16 reported at least one incident of identity theft in 2014, according to a new report from the Bureau of Justice Statistics.

Three collection agencies agreed Monday to pay a total of $493,670 in civil penalties to resolve allegations that they committed unfair practices.

U.S. bankruptcy filings totaled 629,570 in the first nine months of the year, an 11% decrease from the 705,728 total filings during the same period a year ago, according to the American Bankruptcy Institute.

A fintech startup that wants to change the way lenders and consumers square bad debts has raised $10 million in financing from a group of prominent investors.

The head of a sham debt relief operation agreed to a judgment of more than $7.9 million to settle Federal Trade Commission charges that he deceived consumers and charged them thousands of dollars while providing nothing in return.

When Experian acknowledged Thursday that hackers had broken into one of its servers, it was bad news for everyone. Not just the 15 million T-Mobile customers whose personal information was compromised.

Collection agency Pioneer Credit Recovery on Thursday began a one-year contract to pursue nearly $3 million in unpaid Trenton (N.J.) Municipal Court fines from people who lost their traffic, drug or other court cases.

A server containing sensitive consumer information at Experian has been breached, with the records of as many as 15 million T-Mobile customers stolen, the companies said Thursday.

An auto finance company and its title lending arm must overhaul their collection practices and provide consumers $44.1 million in cash relief and balance reductions to settle federal charges.