The Consumer Financial Protection Bureau's first "National Financial Well-Being Survey" found that a large slice of consumers experience financial hardship.
A federal judge sanctioned the Consumer Financial Protection Bureau on Friday by dismissing a massive lawsuit against several payment processors, saying the agency demonstrated a "willful disregard" for court rules.
The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market.
Readers chime in on the GSE conservatorships, bitcoin’s future, regulatory relief for regional banks, a recent Supreme Court ruling on debt collection, and more.
Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.
Justices on the Supreme Court appeared exasperated with both sides for a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities.
