Consumer lending

A new International Association of Commercial Collectors survey, “What I Wish My Clients Knew, What I Wish They Told Me,” suggests that by closing any gaps in record-keeping and consistently following credit and collection procedures, commercial creditors would eliminate some of the biggest obstacles to collection.

The Consumer Financial Protection Bureau is pushing back against a lawsuit from PHH Corp. that claims the agency erred in overturning an administrative law judge's recommendation to limit the amount of penalties it could face.

Traditional installment lenders are fixtures in their communities and verify borrowers' ability to repay, which cannot be said of payday lenders.

The Consumer Financial Protection Bureau's current approach to carrying out new authority under the Dodd-Frank Act to punish "abusive" behavior is likely not sustainable.

Ohio regulators announced the filing of a lawsuit Friday against Buffalo, N.Y. collection agency Rotech Holdings Ltd. for allegedly harassing and misleading Ohio residents.

Confidence in the U.S. economy appears to be rising amid low gas prices and a strong dollar as Americans stepped up their borrowing pace in September, according the the Federal Reserve’s G.19 consumer credit report.

Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.

PRA Group reported third-quarter revenue of $229.4 million, a 4% drop that fell far short of 9% growth expectations. The debt-buying giant’s net income dropped by nearly two-thirds from year-ago levels.

Borrowing by U.S. small businesses increased overall growth in September, according to the Thomson Reuters/PayNet Small Business Lending Index.

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

The FTC and other law enforcement officials across the U.S. announced Wednesday the first coordinated federal-state enforcement measure targeting deceptive and abusive collection practices. "Operation Collection Protection" could signal that regulators will be more aggressive, but also forthright about pursuing the industry.

Consumers' average daily spending in October totaled among the highest amounts this year and more than reports for October dating between 2009 and 2012, according to Gallup’s latest daily spending poll results.

The Federal Trade Commission’s news conference set for Wednesday concerning a debt collection law enforcement initiative reportedly involves unveiling a new national plan to stop nefarious debt collectors.

The CFPB has revised the process by which companies can appeal a supervisory action. The changes were mentioned as part of the agency's Supervisory Highlights report, which focused on concerns in the servicing of student loans and mortgages as well as debt collection and credit reporting problems.

The FTC will host a news conference in Washington, D.C., at 12:30 p.m. Wednesday to announce what the agency is calling a "major law enforcement initiative" involving the debt collection industry.

The CFPB has released its monthly report on consumer complaints. The latest report highlights consumer complaints related to credit cards as well as consumer complaints from the Chicago metro area.

In what could be seen as another salvo in the battle between fintech "distruptors" and more traditional financial institutions, five large technology companies — Google, Amazon, Apple, PayPal and Intuit — have formed a lobbying and advocacy group dedicated to financial issues.

JPMorgan Chase & Co., the nation’s largest bank by assets, will pay $100 million to settle a California lawsuit alleging it used illegal methods to collect debts from more than 125,000 credit card holders.

A U.S. district court’s efforts to fight foreclosures in Rhode Island by requiring loan modification talks in pending foreclosure cases has led to mixed results, according to Deputy Special Master Barbara Hurst.