The CFPB (Consumer Financial Protection Bureau) has issued a new report on tradelines reported by third-party debt collectors as reflected on credit reports compiled by nationwide consumer reporting agencies. The third-party collector tradelines consist of those reported by debt buyers and those … Continue reading →
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(Adds comment from new Equifax CEO, Massachusetts AG) By Pete Schroeder WASHINGTON, July 22 (Reuters) – Credit-reporting company Equifax Inc will pay up to $700 million to settle claims it broke the law with a massive 2017 data breach and … Continue reading →
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Protest at Johns Hopkins Hospital in Baltimore. | NNU BALTIMORE—Johns Hopkins Hospital in Baltimore may have a world-class reputation for medical research and care, but it’s anything but world-class in the way it treats its nurses and its neighbors. And … Continue reading →
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On Thursday, a report surfaced that J.C. Penney Company Inc. had hired advisors to explore debt restructuring options to buy itself more time for a turnaround. The struggling department store chain promptly denied the report, writing in a statement that it “routinely hire[s] … Continue reading →
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The private student loan debt market has grown to US$102 billion with 1.4 million borrowers, according to a report by LendEdu. The average student loan debt was US$13,780 from 2016 to 2019, according to LendEdu’s database of about 200,000 private … Continue reading →
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A disciplinary hearing into the conduct of a firm of attorneys that facilitates debt collection on behalf of several credit providers will be heard soon, according to Jaco Fourie, senior legal officer at the Legal Practice Council. The hearing comes … Continue reading →
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CEO Mark Begor testifies in Congress on March 7. He has said the company has sought to help consumers fix errors on their credit reports since the breach. PHOTO: AL DRAGO/BLOOMBERG NEWS By AnnaMaria Andriotis Equifax Inc. EFX -1.39% … Continue reading →
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In most cases, consumers use credit cards to borrow and sustain a positive balance for nearly a year, sometimes longer, according to a new Consumer Financial Protection Bureau Data Point: Credit Card Revolvers. The CFPB’s Office of Research, using data … Continue reading →
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WASHINGTON– The Consumer Financial Protection Bureau has released a report that found that more than one-in-four consumers with a credit report have at least one debt in collection by third-party debt collector. The report, which covers 2004 to 2018, is … Continue reading →
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Enlarge this image LA Johnson/NPR Most days, 25-year-old Chavonne can push her student loan debt to the back of her mind. Between short-term office jobs in the Washington, D.C., area, she drives for Uber. But once in awhile, a debt … Continue reading →
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