Some 44 million Americans collectively hold over $1.6 trillion in student debt. And these numbers are growing. At the same time, advancements in technology, especially automation, are making it harder to earn a living wage without some type of advanced … Continue reading →
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Consumer borrowing declined in April by the fastest rate since 1943 as credit card use saw a record decline, according to Federal Reserve data released Friday. Total consumer credit decreased at a 19.6% rate or $68.8 billion in April. Economists … Continue reading →
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Before COVID-19 Americans had posted the biggest first-quarter credit card debt paydown ever at $60 billion. Americans began 2020 owing more than $1 trillion in credit card debt after a $76.7 billion net increase during 2019. Consumers were on pace … Continue reading →
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Two debt collection companies convinced an Indiana federal judge to toss a Telephone Consumer Protection Act class action claiming they sent more than 6,500 text messages to people who had already replied “stop,” based on the Seventh Circuit’s recent autodialer … Continue reading →
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The New York City Department of Consumer Affairs is adding new rules that require debt collectors to inform consumers about whether certain language access services are available and to retain records relating to language access services. The rule was reviewed … Continue reading →
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The Federal Trade Commission said Wednesday that Kohl’s Department Stores Inc. has agreed to pay $220,000 to settle allegations it violated the Fair Credit Reporting Act by refusing to provide complete records of transactions to consumers whose personal information was … Continue reading →
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93.3% of apartment households paid some form of rent by May 27, according to the National Multifamily Housing Council SANTA BARBARA, California, June 10, 2020 /PRNewswire/ — May rent growth continued its downward trend as many states began to open … Continue reading →
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Banks are in talks with UK regulators about extending coronavirus relief measures for customers struggling to repay credit cards and other unsecured debts until the end of September. Last week the government said homeowners who were unable to pay their … Continue reading →
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A Lowell contractor plans to lay off 250 workers as one of its largest deals dries up because of the coronavirus pandemic. Business significantly slowed for Central Research Inc. (CRI) when the U.S. Department of Education put a temporary hold … Continue reading →
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The CFPB announced that it has entered into a proposed settlement with several of the defendants in the lawsuit it filed in January 2020 in a California federal district court that alleges the defendants obtained consumer reports unlawfully, charged unlawful … Continue reading →
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