Consumer lending

Hammond-Henry Hospital in Geneseo, Ill. filed a seven-count lawsuit in Henry County (Ill.) Circuit Court alleging breach of contract by collection agency Allied Business Accounts, doing business as Health Care Billing Services.

The FTC has published a reminder to debt collectors about Fair Debt Collection Practices Act compliance risks created by the use of social media or text messages in connection with debt collection efforts.

The Consumer Financial Protection Bureau has amassed more than $300 million in its consumer relief fund, nearly double the amount from a year earlier - sparking questions about why the fund is so large.

Debt collection complaints topped the Consumer Financial Protection Bureau’s annual list in 2015 with 31% of total complaints, but the number dipped 3.5% to 85,200.

Poplar Bluff, Mo. city officials are looking into hiring a collection agency to pursue more than $200,000 in debt owed by a former internet provider.

Two large national groups want a federal court to force the Department of Education to release documents showing how it oversees private collection agencies and collects student loan debt.

The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.

Competition is spurring subprime auto lenders to stretch their underwriting guidelines for new customers, raising fears of another bust. In February, 5.16% of securitized subprime auto loans were at least 60 days past due, according to Fitch Ratings. That slightly exceeded the level of late payments at the height of the Great Recession. Here's a guide to who's doing what in the market, courtesy of our colleagues at Asset Securitization Report.

The CFPB has ordered Student Aid Institute Inc., a company accused of preying on student loan borrowers, to shut down, cancel all contracts and stop participating in the industry.

A federal court halted a Chicago-area operation that allegedly threatened consumers to collect phony payday loan debts and provided portfolios of fake debt to other debt collectors. It's the FTC’s first case alleging that practice.

An Iowa man, who battled the Iowa Department of Revenue for three years over taxes he argued collectors never should have demanded he pay, received a $5,000 reimbursement this week from his former employer.

The CFPB's latest monthly report on complaints from consumers focuses on debt collection complaints.

Credit unions have a dominant auto lending presence in the West, boasting as much as a 50% market share in some areas. Credit Union Journal explores what is driving that dominance.

The Coalition for Safe Loan Alternatives intends to become a peer-to-peer forum for best practices among the alternatives to payday loans. The group will not advocate for policy changes. Rather, it aims to offer a platform for local organizations to share information and compare ways to offer low-cost access to credit.

A court ruling that struck down key sections of a Missouri law limiting the ability of cities to profit from court fines and traffic tickets will be appealed by Missouri Attorney General Chris Koster.

Bankers are warming up to a program that aims to improve the credit profile of entrepreneurs while giving banks a new way to compete with online lenders.

The subprime consumer lender currently rejects many of its personal loan applicants. It hopes to qualify more borrowers by offering cash to those who are willing to put their cars up as collateral.

The Urban Institute has released a report reviewing data from 118 million homeowners and 127 million renters to help understand how mortgages relate to other consumer debts.

The CFPB's annual report to Congress updates the current status of proposed debt collection rules and lists four key themes that emerged from the more than 23,000 comments received after the CFPB’s 2013 debt collection Advanced Notice of Proposed Rulemaking.

Thousands of students who were defrauded by Corinthian Colleges could receive billions in debt forgiveness from the federal government, the U.S. Department of Education announced Friday.