Two debt collection companies convinced an Indiana federal judge to toss a Telephone Consumer Protection Act class action claiming they sent more than 6,500 text messages to people who had already replied “stop,” based on the Seventh Circuit’s recent autodialer … Continue reading →
Read more: creditandcollectionnews.com
The New York City Department of Consumer Affairs is adding new rules that require debt collectors to inform consumers about whether certain language access services are available and to retain records relating to language access services. The rule was reviewed … Continue reading →
Read more: creditandcollectionnews.com
The Federal Trade Commission said Wednesday that Kohl’s Department Stores Inc. has agreed to pay $220,000 to settle allegations it violated the Fair Credit Reporting Act by refusing to provide complete records of transactions to consumers whose personal information was … Continue reading →
Read more: creditandcollectionnews.com
93.3% of apartment households paid some form of rent by May 27, according to the National Multifamily Housing Council SANTA BARBARA, California, June 10, 2020 /PRNewswire/ — May rent growth continued its downward trend as many states began to open … Continue reading →
Read more: creditandcollectionnews.com
Banks are in talks with UK regulators about extending coronavirus relief measures for customers struggling to repay credit cards and other unsecured debts until the end of September. Last week the government said homeowners who were unable to pay their … Continue reading →
Read more: creditandcollectionnews.com
A Lowell contractor plans to lay off 250 workers as one of its largest deals dries up because of the coronavirus pandemic. Business significantly slowed for Central Research Inc. (CRI) when the U.S. Department of Education put a temporary hold … Continue reading →
Read more: creditandcollectionnews.com
The CFPB announced that it has entered into a proposed settlement with several of the defendants in the lawsuit it filed in January 2020 in a California federal district court that alleges the defendants obtained consumer reports unlawfully, charged unlawful … Continue reading →
Read more: creditandcollectionnews.com
The Consumer Financial Protection Bureau (CFPB) this week released a statement and frequently asked questions (FAQs) document outlining the responsibility of credit card issuers and open-end non-home secured creditors during the pandemic. The statement outlines billing error responsibilities under Regulation … Continue reading →
Read more: creditandcollectionnews.com
Before the last U.S. economic crisis, banks were well positioned to anticipate an imminent spike in consumer loan defaults. The mortgage market’s implosion materialized gradually in 2007 and 2008, giving lenders time to prepare for the fallout by tightening lending … Continue reading →
Read more: creditandcollectionnews.com
The auto industry was already facing financial headwinds. But new challenges courtesy of the coronavirus may take auto manufacturers and suppliers years to overcome, says a new outlook detailed Thursday by Alix Partners LLP, an industry consultant. “We were already on … Continue reading →
Read more: creditandcollectionnews.com
