In March, Apple revealed its first credit card: Apple Card, a thin slab of titanium that would provide shoppers with 3% cash back at Apple stores, 2% at anywhere Apple Pay is available, and 1% everywhere else. Many observers quickly … Continue reading →
Read more: creditandcollectionnews.com
About 40 million Americans had a credit card declined in the past year, according to a new report from CompareCards.com, a LendingTree company that helps consumers improve their credit health. Having a credit card declined can be surprising, embarrassing and … Continue reading →
Read more: creditandcollectionnews.com
Credit card issuers are benefiting from accelerating spending growth by their US customers, the banking industry’s second-quarter results have shown. Companies from JPMorgan Chase and Capital One to Synchrony Financial have reported growth in card spending in the three months … Continue reading →
Read more: creditandcollectionnews.com
In this podcast, we discuss the CFPB’s proposed requirement for a collector to communicate with a debtor before furnishing information about the debt to a consumer reporting agency and proposed prohibition on selling or transferring a debt that is the … Continue reading →
Read more: creditandcollectionnews.com
Consumer Payment Card News Late credit card payments are increasing slowly but surely over the past five years and setting new records. At the same time credit card users have resumed piling on more debt. These two signs along … Continue reading →
Read more: creditandcollectionnews.com
Operators allegedly bilked consumers out of more than $23 million The Federal Trade Commission has stopped a student loan debt relief scheme, alleging it bilked more than $23 million from thousands of consumers with false claims that it would service … Continue reading →
Read more: creditandcollectionnews.com
Calls, mailings or lawsuits from debt collectors: all things most people would prefer not to deal with. But they’re more common than you might realize. According to the Consumer Financial Protection Bureau, more than 70 million Americans have dealt with debt collectors, … Continue reading →
Read more: creditandcollectionnews.com
by Colleen Tressler Consumer Education Specialist, FTC It’s a staggering number. More than 42 million Americans owe a total of nearly $1.5 trillion in student loan debt. It’s no wonder people look for help. But not all help is legit. … Continue reading →
Read more: creditandcollectionnews.com
NCUA official seal. (Source: NCUA) A federal judge in Michigan ruled Monday that the NCUA does not owe more than $300,000 to James Perna, a 42-year credit union president/CEO who was fired when Detroit’s Health One Credit Union was conserved … Continue reading →
Read more: creditandcollectionnews.com
The IRS says it will be able to hire 200 additional special compliance personnel by 2020 with revenue brought in by private collection agencies. The main sponsor of the IRS program under which certain tax debt is turned over to … Continue reading →
Read more: creditandcollectionnews.com
