If you get a robocall promising a reduction in your credit card’s interest rate, the Federal Trade Commission (FTC) has a piece of advice: hang up. The agency says it has begun distributing refunds to consumers who fell for such … Continue reading →
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Tuesday, May 28, 2019 Continuing our coverage of the CFPB’s proposed debt collection rules, this blog post will focus on a few provisions that pertain specifically to mortgage servicers. In part, the proposal continues the CFPB’s efforts to harmonize mortgage servicing … Continue reading →
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Uncategorized Senate Bill 1581, introduced by Sen. Jeff Merkley [D-Ore.] and co-sponsored by Sen. Richard Blumenthal [D-Conn.], Sen. Elizabeth Warren [D-Mass.], Sen. Bob Menendez [D-N.J.], and Sen. Dick Durbin [D-Ill.], would amend the Fair Credit Reporting Act by delaying reporting of … Continue reading →
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Today, Americans owe over $1.5 trillion in student loans, and research shows that it is impacting the ways Americans save, spend and live their lives. The Federal Reserve Board of Washington, D.C. found that an increase in student debt has … Continue reading →
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Total U.S. household debt is now $993 billion higher than the peak of $12.68 trillion in the third quarter of 2008, according to a new report by the New York Fed. According to the Fed’s Quarterly Report on Household Debt and … Continue reading →
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Debt collectors licensed in Washington have new requirements in effect this summer for filing legal summons and the timing for medical debt collections; matters members of the Washington Collectors Association testified on during the legislative session. Gov. Jay Inslee signed … Continue reading →
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Unlimited texting? Perhaps. Nights and weekends – well, maybe not. The latest salvo of proposed rule-making that would change the debt collection landscape seeks to include means of communication that were not on offer decades ago. The Fair Debt Collection … Continue reading →
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1 / 2 Consumer Insolvencies in Canada Climb to Highest in 8 Years (Bloomberg) — Canadian consumers filed the most insolvencies in eight years in March, an indication record debt levels may be catching up with an … Continue reading →
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The median 2017 graduate who borrowed for a bachelor’s degree left school with about $25,500 in debt. Last month, Massachusetts Senator and Democratic presidential hopeful Elizabeth Warren released a student-debt plan that would forgive up to $50,000 in student loans … Continue reading →
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More than 40 years ago, while Congress debated new legislation to regulate debt collection practices, ACA International members had a debate of their own: if the association should support workable federal legislation covering debt collection practices or if it should … Continue reading →
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