There’s good news and bad news about debt collection. The bad news: a new debt collection rule permits unlimited electronic access to contacting consumers. But the good news: the rule may eliminate “debt parking” by forcing debt collectors to reach … Continue reading →
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One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion (NYSE: TRU) to a public registry under the Consumer Financial … Continue reading →
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The Consumer Financial Protection Bureau is looking to delay the implementation dates of the Qualified Mortgage and debt collection rules and will resume collecting data on home loans, credit cards and prepaid cards. Acting CFPB Director Dave Uejio wrote in … Continue reading →
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The CyberGuy Kurt Knutsson advises money sharing app Venmo users to look at their privacy settings to keep your spending private. The Consumer Financial Protection Bureau is probing the way that Venmo, the digital money-transfer service operated by PayPal Holdings … Continue reading →
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Millions of Americans unable to pay their rent during the pandemic face a snowballing financial burden that threatens to deplete their savings, ruin their credit and drive them from their homes. A patchwork of government action is protecting many of … Continue reading →
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Getty Images When the state-mandated shutdowns started last March, Skyler Fort, a painting contractor in northern Michigan, turned to his local credit union, 4Front Credit Union, for a PPP loan. Many Americans sought out loans in the past year, and … Continue reading →
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The worldwide pandemic has caused much financial hardship all over our country, and New York State has halted the collection of medical, and student debt owed to the state. Business and families have lost income due to the rapid spread … Continue reading →
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The Office of the New York State Attorney General is considering bringing claims against Credit Acceptance Corp. in connection with the subprime lender’s originations, collections and securitization practices. Southfield, Mich.-based Credit Acceptance disclosed in its quarterly filing with the Securities … Continue reading →
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NEW YORK (WWTI) — The suspension of state debt collection was … Continue reading →
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Due to the national public health emergency caused by coronavirus disease 2019 (COVID-19), the U.S. Department of Agriculture announced the temporary suspension of past-due debt collections and foreclosures for distressed borrowers under the Farm Storage Facility Loan and the Direct … Continue reading →
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