Written By ESR News Blog Editor Thomas Ahearn In July 2020, a record number of consumers filed complaints with the Consumer Financial Protection Bureau (CFPB) for the fifth consecutive month due to the Coronavirus (COVID-19) pandemic, led by a surge … Continue reading →
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Used cars for sale, in Linden, N.J. GETTY IMAGES Auto lenders that cater to borrowers with subprime credit histories experienced a sharp increase in delinquencies in the second quarter, according to credit bureau TransUnion. Auto lenders are likely to respond … Continue reading →
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(Photo: Credit: sebra/Shutterstock.com) Five months into the pandemic and its economic side effects, a top Atlanta partner said his Am Law 200 firm isn’t experiencing the kind of payment delays from clients that occurred in the Great Recession.
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Law360 (August 18, 2020, 5:54 PM EDT) — A New York federal judge on Tuesday approved the U.S. Consumer Financial Protection Bureau’s demands for information from a debt-collection law firm, rejecting the firm’s constitutional challenges to the agency’s investigation and … Continue reading →
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Morgan Haefner – Tuesday, August 18th, 2020 Print | Email Due to financial hardships brought by the COVID-19 pandemic, New York’s attorney general said Aug. 14 that her office will continue halting collections for past-due medical debt owed to the state. … Continue reading →
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Vehicles sit parked next to residential buildings in San Francisco, California, U.S. (Photographer: David Paul Morris/Bloomberg) Americans cut back on credit cards and other types of consumer borrowing in the second quarter as the pandemic froze the economy, sending overall … Continue reading →
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Media investigation prompted state’s most litigious lender to cease years-long practice of going after its Latino clients The most litigious debt collector in Sacramento County—and possibly California—is retreating from courthouses following an investigation by The Guardian into the company’s aggressive … Continue reading →
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Extraordinary circumstances could cause unpaid bills to pile up and lead to payment default entries. Image: Henrietta Hassinen / Yle Financial insecurity resulting from the coronavirus crisis could cause an increase in payment defaults in Finland, according to credit data … Continue reading →
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R1 RCM Inc. [NASDAQ:RCM], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. Formerly known as Accretive Health Inc., Chicago-based R1 RCM brought in revenues of $1.18 billion in 2019. The company has … Continue reading →
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ANALYSIS: CFPB COMPLAINTS SURGE DURING PANDEMIC, LED BY CREDIT REPORT COMPLAINTS RELEASED BY: U.S. PIRG RELEASE DATE: THURSDAY, AUGUST 13, 2020 > READ NEWS RELEASE > DOWNLOAD REPORT (PDF) For the fifth consecutive month, consumer complaints to the CFPB set … Continue reading →
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