At the beginning of the calendar year, credit information company TransUnion Cibil introduced a new method to score borrowers and card users. Rajesh Kumar, its MD and CEO, discusses the difference in the old and new way of assigning credit … Continue reading →
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A new survey illustrates the confusion, stress, and anxiety student loan borrowers are experiencing amid the coronavirus pandemic. The survey, shared exclusively with Yahoo Finance, analyzed responses from around 39,000 respondents from all 50 states. Advocacy organization Student Debt Crisis … Continue reading →
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American Express Co. is shifting “hundreds and hundreds” of employees in its sales units to handle collections and other credit work, and plans to set aside more for loan losses this quarter. As the coronavirus pandemic sent unemployment rates soaring, … Continue reading →
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Texas hospitals are suing patients for unpaid medical bills, a practice that has continued even as the coronavirus pandemic sends unemployment skyrocketing and spurred the state Supreme Court to pause debt collections and eviction proceedings earlier this year. Hundreds of … Continue reading →
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On May 14, 2020, the Consumer Financial Protection Bureau (“CFPB”) filed a proposed stipulated final judgment and order (the “Order”) against Chou Team Realty, LLC (“Monster Loans”) and several related individuals and entities to resolve alleged violations of the Fair … Continue reading →
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Borrowers who graduated with bachelor’s degrees in 2018 had an average of about $29,000 in student loans, according to the College Board. Photo: Jon Krause May 26, 2020 4:36 pm ET It isn’t surprising that college debt is a hot-button … Continue reading →
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The Texas Supreme Court is giving the green light for collections agencies to resume debt collections and account garnishments, and landlords to move forward with evictions proceedings, starting next week. Eviction hearings can begin as soon as May 19, and … Continue reading →
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Through an amendment to Assembly Bill 2501, California Assembly Banking and Finance Chair Monique Limon has introduced sweeping forbearance legislation that would impact single-family and multifamily mortgages, auto-secured financing, Property Assessed Clean Energy (PACE) financing, and payday loans. Named the … Continue reading →
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Comment period extension. Yesterday, the CFPB announced a second 60-day extension of the comment period for its supplemental proposal that would require debt collectors to make specified disclosures when collecting time-barred debts. The CFPB previously extended the initial May 4 … Continue reading →
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WASHINGTON — Amid mounting coronavirus deaths, a faltering economy and slipping poll numbers, President Trump faces a fresh dilemma with possible consequences for his re-election: Should he stand by his education secretary’s efforts to roll back loan forgiveness for students … Continue reading →
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