Legislation introduced by U.S. Sen. Jeff Merkley, R-Ore., on May 21 would amend the Fair Credit Reporting Act to require a one-year waiting period before medical debts are added to consumers’ credit reports. The Medical Debt Relief Act, introduced by … Continue reading →
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U.S. Education Secretary Betsy DeVos Photo credit: Getty Images Photo by Mark Wilson/Getty Images U.S. Secretary of Education Betsy DeVos may sell your student loans. Here’s what you need to know and what it means. Potential Sale of Student Loans … Continue reading →
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NEW YORK, May 21, 2019 /PRNewswire/ — S&P Dow Jones Indices and Experian released today data through April 2019 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that … Continue reading →
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On May 21, the CFPB published its long-awaited proposed rule on debt collection practices (“Proposed Rule”) in large part to address application of the Fair Debt Collection Practices Act (“FDCPA”) to modern collection issues. The CFPB, however, should have called … Continue reading →
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For the past four years, credit reporting has generated the most complaints in the Consumer Financial Protection Bureau’s complaint database. It makes up 43% of all grievances in the database, a jump from 23% in 2016, according to an analysis … Continue reading →
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The Consumer Financial Protection Bureau inadvertently scheduled exams at two debt collection firms that it had no jurisdiction over and in some instances sent examiners to the wrong regions, the bureau’s inspector general said. The agency’s Office of the Inspector … Continue reading →
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“36% of U.S. college students say they already have more than $1,000 in credit card debt” As if massive student debt wasn’t bad enough. Having a credit card for emergencies is a good thing for students but they shouldn’t use … Continue reading →
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Many of us struggle with debt on a daily basis without making much progress. In fact, I recently highlighted that 50% of Americans have maxed out credit cards! With that being said, if you finally have extra money at the end of … Continue reading →
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The next text message you receive may not be a funny picture from your mom, or an update on how late your friend will be to brunch. It could be a debt collector. The Consumer Financial Protection Bureau has proposed … Continue reading →
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President Ronald Reagan’s famous maxim, “Freedom is never more than one generation away from extinction,” remains true today. Yet during times of great prosperity, it’s easy to take things for granted and assume that the good times will remain forever. … Continue reading →
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