During the foreclosure crisis, a number of lenders, servicers, law firms, and others engaged in a practice where employees basically rubber-stamped thousands of foreclosure cases without reviewing any of the relevant details. That practice came to be known as robo-signing. … Continue reading →
Read more: creditandcollectionnews.com
ANNAPOLIS, Md. — Jailing a person for an unpaid debt has been illegal for almost two centuries in the United States. But in Maryland, a roundabout court procedure has seen hundreds of people every year jailed for essentially just that: … Continue reading →
Read more: creditandcollectionnews.com
It costs more than ever to pay with a credit card. Consumers may be spending less as a result, which could be a drag on economic growth. Americans now pay their banks an average 16.9% interest on credit cards … Continue reading →
Read more: creditandcollectionnews.com
Lenders extended less new credit for people to buy homes and cars in the first three months of the year, according to data that raises questions about how much U.S. consumers can contribute to economic growth this year. New mortgage … Continue reading →
Read more: creditandcollectionnews.com
Borrowers with the best credit scores still account for far and away the biggest share of U.S. auto loans, but loans to customers with subprime and so-called near-prime credit — mostly for used cars and trucks — gained share in the first … Continue reading →
Read more: creditandcollectionnews.com
Tuesday, May 14, 2019 In this blog post, we attempt to dissect and explore the Bureau’s proposed call frequency and time/place limitations in the recently-released debt collection NPRM. Proposed Call Frequency Limitations First, let’s tackle the proposed call frequency limitations. Section … Continue reading →
Read more: creditandcollectionnews.com
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA New figures released Friday (10/5/19) by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market fell 1% by … Continue reading →
Read more: creditandcollectionnews.com
Personal information compromised. (Source: Shutterstock) Security researchers discovered an exposed Elasticsearch server containing up to 1.5 million Freedom Mobile users’ personal data, passwordless, and including unencrypted credit card and CVV numbers, expiration dates and verification numbers. The five million exposed … Continue reading →
Read more: creditandcollectionnews.com
MINNEAPOLIS,/PRNewswire/ — While ACA International continues to study the finer points of the Consumer Financial Protection Bureau’s proposed debt collection rules released Monday, May 7, the industry applauds the bureau for seeking to incorporate commonly used modern technology and clearer guidelines … Continue reading →
Read more: creditandcollectionnews.com
Democratic presidential hopeful Sen. Bernie Sanders, I-Vt., speaks during a rally at Burnett Park in Fort Worth last month. (Vernon Bryant/AP) Renae Merle Reporter covering white-collar crime and Wall Street May 9 at 10:02 AM Sen. Bernie Sanders and Rep. … Continue reading →
Read more: creditandcollectionnews.com
