Consumer lending

There are three main areas that collections managers have to concern themselves with when receiving a new placement to work: compliance considerations, contact information and ability to pay.

A TransUnion study revealed that approximately 26.5 million consumers, who previously could not be scored, can be effectively scored using a new risk model.

The Federal Trade Commission is launching two new robocall contests challenging the public to develop a crowd-source honeypot and better analyze data from an existing honeypot.

The U.S. Court of Appeals for the Fourth Circuit has affirmed a district court’s dismissal of claims against debt buyer LVNV Funding for filing proofs of claim in a state where it was not licensed as a debt collector.

A Washington state law that restricts payday loan marketing to poor families has caused the state’s payday lenders to lose three-quarters of their business in the five years since it was enacted, according to published reports.

The FTC and 10 state attorneys general have taken action against a Florida-based cruise line company and seven other companies that assisted a massive telemarketing campaign resulting in billions of robocalls.

California assemblyman Matt Dababneh, D-Encino, has proposed AB 1326, a bill that provides guidelines for any individual or business that wants to start using virtual currency.

Unique Management Services is handling collections for the Hamilton Township Free Public Library in New Jersey, which is owed an estimated $200,000 in unpaid fines for overdue books and materials. The collection agency contracts with large public libraries nationwide.

Investors taking over delinquent mortgages backed by Fannie Mae and Freddie Mac must work harder to reach deals allowing borrowers to keep their homes, according to new rules that are a nod to housing advocates who complain that investors often treat homeowners unfairly.

Debt buyer Asset Acceptance Capital Corp. will lay off 125 employees this spring. The firm's parent company, Encore Capital Group, disclosed the layoff plans this week in a required filing with the state.

The U.S. Department of Education's plan to end contracts with five collection agencies that allegedly provided wrong information to borrowers is expected to result in 400 lost jobs at one of the agencies.

The surprising part of a recent report on U.S. stress tests is not that Deutsche Bank and Banco Santander might fail, but that large banks manage to pass any country's stress tests at all.

Debt collection held steady as the second ranked consumer complaint reported to the Federal Trade Commission, according to the federal agency's 2014 Consumer Sentinel Network Data Book, which was released Friday.

Total lawsuits filed under the Fair Debt Collection Practices Act rose in January while lawsuits citing violations of the Telephone Consumer Protection Act fell. The numbers reverse a trend from the past three years.

Prosper Marketplace, an online lender for consumer loans, has found a new source of referrals: community banks.

Federal and state regulators filed lawsuits against two debt collection rings for allegedly using threats and abusive language, including falsely stating that consumers would be arrested. The operations collected more than $45 million in supposed debts, according to the complaints.

Everyone knows the proverb "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime."

A senior regulatory official on Wednesday continued the alarm bell over the brisk growth in auto lending, suggesting that some lending terms could be setting up banks for trouble.

The Consumer Financial Protection Bureau issued a proposal Wednesday aimed at improving the way that companies submit consumer credit card agreements to the bureau.

A contingent of former Corinthian Colleges Inc. students, backed by student advocates and more than a dozen Senate Democrats, has demanded that the U.S. Department of Education forgive thousands of federal student loans taken out by Corinthian students.