The Consumer Financial Protection Bureau announced a nationwide crackdown on abusive debt collection practices in coordination with the Federal Trade Commission and more than 50 federal and state law enforcement agencies. The initiative announced Tuesday, called Operation Corrupt Collector, details … Continue reading →
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Credit unions got some surprising news with second-quarter results — problem loans actually declined from a year earlier despite significant economic turmoil. The delinquency rate stood at 0.58% in the second quarter, a 5 basis point drop from the same … Continue reading →
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Written by Oscar Holland, CNN An art collective has come up with a novel way of paying off three people’s medical debt: turning their hospital bills into huge paintings and selling them to collectors for thousands of dollars. New York-based … Continue reading →
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Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to be a debt collector. In August, Encore Capital, the … Continue reading →
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A funny thing happened on the way to lower interest rates – credit card firms aren’t singing from the Federal Reserve song sheet. “Despite the Federal Reserve cutting the federal funds rate to near 0% earlier this year, many retail … Continue reading →
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San Antonio-based USAA Federal Savings Bank has received a failing grade from a bank regulator over evidence of “discriminatory or other illegal credit practices.” The Office of the Comptroller of the Currency lowered USAA Bank’s overall Community Reinvestment Act performance … Continue reading →
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SAN DIEGO, Sept. 29, 2020 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter of 2020 on Monday, November 2, 2020, after the … Continue reading →
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Talk about encouraging — and surprising — news. Millions of Americans are struggling with income loss during the COVID-19 pandemic, so you’d think credit card balances would skyrocket at a time like this. But actually, the opposite has happened. Total … Continue reading →
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Aline Quint splits her time between Falls Church, Virginia and Sarasota, Florida. She just started a renovation project on her condo in Florida and was planning to pay for much of it with her credit card so she could earn … Continue reading →
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StepChange Debt Charity has submitted a critique on government debt collection practices in response to a Cabinet Office exercise. The charity has looked at how “remarkably poorly” the practices of both local and central government compare to those in regulated … Continue reading →
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