Consumer lending

DBA International released a statement late Monday responding to Sunday's episode of HBO's Last Week Tonight, which focused on the debt-buying industry.

The Consumer Financial Protection Bureau filed a lawsuit Monday against payment processer Intercept Corp. and its two top executives for allegedly enabling clients to withdraw millions of dollars' worth of illegal charges from consumer bank accounts.

HBO's Last Week Tonight on Sunday took a detailed look at the business of debt collection and debt buying, then forgave nearly $15 million in medical debt.

Two debt buyers have entered into consent judgments with the New York Department of Financial Services for allegedly violating the Fair Debt Collection Practices Act and New York Debt Collection Procedures Law.

Credit quality can only go downhill from here. Speaking at an industry conference Thursday, the heads of several big banks — including JPMorgan Chase, Bank of America and U.S. Bancorp — warned of looming deterioration in their loan books.

Alorica Inc., a customer service company, has acquired Expert Global Solutions, a call center operator that supports accounts receivable management firms.

A federal court jury in Utah delivered a verdict in favor of the FTC against three Utah-based firms and their owner, finding that they engaged in deceptive and unlawful telemarketing campaigns.

PRA Group Inc., a Norfolk, Va.-based debt-buying giant, announced Friday both the resignation of executive Neal Stern and a series of organizational changes.

The Consumer Financial Protection Bureau's complex payday lending proposal is sparking concerns that state legislatures will try to repeal existing usury laws and allow a parade of pro-payday-lending bills to move forward.

Credit quality has improved across the industry over the past few years, but don't expect that trend to continue because of several economic forces, big-bank CEOs said Thursday.

The Consumer Financial Protection Bureau proposal could have included flexibility for banks to offer payday loan alternatives, but the plan misses the mark.

The Consumer Financial Protection Bureau issued its long-awaited proposal Thursday to regulate payday, auto title and certain high-cost installment loans without a key provision that would have allowed banks to compete by offering their own small-dollar loans.

The Consumer Financial Protection Bureau's long-awaited proposal to establish the first federal rules for payday, auto title and high-cost installment loans did not include a provision that banks had planned would allow them to compete by offering small-dollar installment loans.

We need to adopt a more nuanced view of credit that considers not only the cost of credit, but also the cost of default and the cost of having no credit.

Access to credit helps unemployed consumers by giving them more time to find a new job with higher pay, according to research by economists from the University of Minnesota and Dartmouth College.

Fannie Mae announced it sold its third Community Impact Pool of non-performing loans to New Jersey Community Capital.

While existing state laws show that payday lending curbs lead to positive outcomes, those laws will still benefit from a strong Consumer Financial Protection Bureau rule.

A legislative proposal has surfaced in Congress that seeks to disrupt much of the U.S. system of reporting and using credit information, including potentially major changes in credit scores.

The Consumer Financial Protection Bureau will unveil sweeping federal regulations Thursday for payday lenders that could open the door for competition from banks, while forcing lenders to move toward longer-term installment loans. Here's what to track when the plan is released.

The idea that restricted access to loans for poor-credit borrowers is unequivocally a bad thing is based on industry talking points that don't stand up to real-world scrutiny.