A bill is being introduced in the Ohio Legislature that would halt the collection of student and medical debt owed to state universities and hospitals. Statehouse correspondent Jo Ingles explains. The bill (HB32) would do what is already being done … Continue reading →
Read more: creditandcollectionnews.com
On January 21, the CFPB issued a Small Entity Compliance Guide summarizing the October 2020 Debt Collection Rule. The Debt Collection Rule amends Regulation F, 12 CFR Part 1006 and becomes effective on November 30, 2021. The Debt Collection Rule … Continue reading →
Read more: creditandcollectionnews.com
The United States Court of Appeals for the Seventh Circuit has recently released a veritable avalanche of debt collector-friendly opinions regarding “standing” under the Fair Debt Collection Practices Act (FDCPA), which given the relative dearth of lender-slanted opinions in this legal niche, seems practically momentous. As of the … Continue reading →
Read more: creditandcollectionnews.com
Every new presidential administration gets to make its imprint on regulations — and by extension, the financial services industry. In the midst of grappling with the pandemic and the headwinds still buffeting the U.S. economy, the President Joe Biden administration … Continue reading →
Read more: creditandcollectionnews.com
There’s good news and bad news about debt collection. The bad news: a new debt collection rule permits unlimited electronic access to contacting consumers. But the good news: the rule may eliminate “debt parking” by forcing debt collectors to reach … Continue reading →
Read more: creditandcollectionnews.com
One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion (NYSE: TRU) to a public registry under the Consumer Financial … Continue reading →
Read more: creditandcollectionnews.com
The Consumer Financial Protection Bureau is looking to delay the implementation dates of the Qualified Mortgage and debt collection rules and will resume collecting data on home loans, credit cards and prepaid cards. Acting CFPB Director Dave Uejio wrote in … Continue reading →
Read more: creditandcollectionnews.com
The CyberGuy Kurt Knutsson advises money sharing app Venmo users to look at their privacy settings to keep your spending private. The Consumer Financial Protection Bureau is probing the way that Venmo, the digital money-transfer service operated by PayPal Holdings … Continue reading →
Read more: creditandcollectionnews.com
Millions of Americans unable to pay their rent during the pandemic face a snowballing financial burden that threatens to deplete their savings, ruin their credit and drive them from their homes. A patchwork of government action is protecting many of … Continue reading →
Read more: creditandcollectionnews.com
Getty Images When the state-mandated shutdowns started last March, Skyler Fort, a painting contractor in northern Michigan, turned to his local credit union, 4Front Credit Union, for a PPP loan. Many Americans sought out loans in the past year, and … Continue reading →
Read more: creditandcollectionnews.com
