Americans Are at Least $27.6 Billion in Debt to Courts By Walker Bragman States and municipalities are increasingly relying on court fees as revenue streams, creating at least $27.6 billion in debt for Americans. To handle that debt’s collection, those … Continue reading →
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The case was brought by shareholders of Fannie Mae and Freddie Mac, who said the law that created the agency was unconstitutional. WASHINGTON — President Biden on Wednesday removed the chief of the Federal Housing Finance Agency, which oversees the … Continue reading →
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Congress is considering multiple new bills that could dramatically overhaul credit reporting for private student loan borrowers and other consumers. One bill, the Comprehensive Consumer Credit Reporting Reform Act, would create a private student loan rehabilitation program that would allow … Continue reading →
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Americans seem to be regaining an appetite for auto loans and leases, credit cards and personal loans, The Wall Street Journal (WSJ) reported. The demand for these types of borrowing shot up 39 percent year over year in April, and … Continue reading →
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The defendant debt collection agency in Hunstein v. Preferred Collection & Mgmt. Servs. Inc. and ACA International both recently filed letters of supplemental authority with the 11th Circuit Court of Appeals under Federal Rule of Appellate Procedure 28(j). The letters bring … Continue reading →
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A Florida man has accused PayPal and TrueAccord of illegally attempting to collect money from him via “incessantly” robocalling, emailing, and text messaging. Tuesday’s complaint seeks relief from numerous violations of the Fair Debt Collection Practices Act (FDCPA), the Florida … Continue reading →
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In summary A bill aims to create new rules for California’s mostly unregulated debt settlement industry. AB 1405, expected to pass through Senate committees, comes at a time when the industry expects to see a 75% increase in account enrollment. … Continue reading →
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Source: Shutterstock. It may not have been the most high-profile story out of the massive public-private response to the COVID-19 pandemic, but nearly 850 credit union lenders stepped up and processed hundreds of thousands of loans worth billions of dollars … Continue reading →
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A group of Democratic senators are calling on the Consumer Financial Protection Bureau (CFPB) to address the nation’s ever-growing medical debt. Sens. Chris Murphy (D-CT), Chris van Hollen (D-MD), Tammy Baldwin (D-WI), Cory Booker (D-NJ), Elizabeth Warren (D-MA), and Richard … Continue reading →
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After announcing several years ago that it intended to pick up with fair lending enforcement in the indirect auto finance market where the CFPB left off, the New York Department of Financial Services has announced two consent orders with smaller, … Continue reading →
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