Amid all of this week’s news, one potentially game-changing piece of legislation seemed to slip under the radar: the idea of dramatically overhauling the U.S. credit reporting industry. “Good credit is a gateway to wealth,” said House Committee on Financial Services chair Maxine … Continue reading →
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Senate Democrats are calling on federal authorities to take action on aggressive medical debt collection, citing reports about hospitals suing patients over unpaid bills. In a letter to the the Consumer Financial Proection Bureau (CFPB), Democratic Sens. Chris Murphy (Conn.) … Continue reading →
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California lawmakers have advanced a budget proposal to stop collecting child support debt from some parents who are receiving cash assistance, but the proposed solutions are a far cry from what advocates for those debt-holders sought in January. The Legislature’s budget … Continue reading →
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TORI Spelling’s debt collector is demanding the Los Angeles Sheriff’s Office force the cash-strapped actress to pay the $6K debt she owes. Tori, 48, was ordered to pay Cavalry SPV I, a debt-buying company on behalf of Citibank, $5,054.32 for … Continue reading →
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Transworld Systems Inc. (TSI), the largest U.S. technology-enabled provider of accounts receivable management (ARM) solutions, announced today it has completed its acquisition of Account Control Technology Holdings, Inc. (ACT Holdings), a leading debt recovery, ARM and business process outsourcing company. Transaction … Continue reading →
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The CFPB recently issued a consent order against an auto-loan finance company for illegally charging customers interest on late payments of its loss damage waiver fee without their knowledge. The CFPB found that between 2016 and 2021, the company violated … Continue reading →
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ROCKVILLE, Md.,– According to Packaged Facts’ just-released report, Private Label Credit Cards in the U.S., transactions and dollar volume for private-label credit cards dropped sharply with the onset of COVID-19, but then experienced recovery in the second half of the year. Even … Continue reading →
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In Kinnick v. Med-1 Solutions LLC, an Indiana district court granted partial summary judgment for the defendant in a Fair Debt Collection Practices Act (FDCPA) case. In its holding, the court emphasized that requesting that collection communications cease before the … Continue reading →
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NEW YORK, June 15, 2021 /PRNewswire/ — S&P Dow Jones Indices and Experian released today data through May 2021 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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Connecticut’s no-action position on remote work, enacted in March 2020, allowed individuals engaged in certain licensable activity on behalf of consumer credit licensees to work from remote office locations not licensed as branch office locations. While the no-action order expired … Continue reading →
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