WASHINGTON (CNN) — The Education Department released new student loan data this week, as part of its plan to deal with student loan debt by giving individual consumers more information about what they’re likely to get for their money. The … Continue reading →
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Banks Hold On to Riskier Credit-Card Loans Amid Higher Losses More (Bloomberg) — More U.S. consumers are defaulting on their credit cards, but banks may be holding onto the riskiest loans instead of passing them off to investors, according to … Continue reading →
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Millions of Americans over the age of 60 are still struggling to pay their student loan debt, according to CBS News. ADVERTISEMENT The news outlet cited data obtained from the Consumer Financial Protection Bureau which said there are more than three million … Continue reading →
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Wednesday, May 22, 2019 The CFPB’s proposed debt collection rules were published in yesterday’s Federal Register. Here is the link to the Rules https://www.creditandcollectionnews.com/viewer.php?url=https://www.creditandcollectionnews.com/uploads/CFPB%20Debt%20Collection%20Rules.pdf The publication of the proposal means that the 90-day comment period is now running. Comments must be … Continue reading →
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Minnesota residents can brag about more than their 10,000 lakes — they typically have the country’s best credit scores too. As in previous years, the midwestern state has America’s highest average credit score, according to Experian. Those living in Minnesota … Continue reading →
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WARNING: Some fake debt collectors may know a lot about you Catie Brown used to have Century Link for phone and internet. She says she owed the company money — $500 — but didn’t know it at the time. Then, … Continue reading →
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MediaNews Group/Orange County Register/Getty Images Experian, a consumer credit reporting company that supports more than 300 million people and 40 million businesses across the U.S., just released its latest State of Credit report. The report compared consumer credit behavior data … Continue reading →
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During the foreclosure crisis, a number of lenders, servicers, law firms, and others engaged in a practice where employees basically rubber-stamped thousands of foreclosure cases without reviewing any of the relevant details. That practice came to be known as robo-signing. … Continue reading →
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ANNAPOLIS, Md. — Jailing a person for an unpaid debt has been illegal for almost two centuries in the United States. But in Maryland, a roundabout court procedure has seen hundreds of people every year jailed for essentially just that: … Continue reading →
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It costs more than ever to pay with a credit card. Consumers may be spending less as a result, which could be a drag on economic growth. Americans now pay their banks an average 16.9% interest on credit cards … Continue reading →
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