For Immediate Release ACA International Communications Department [email protected] Minneapolis, Minnesota – October 30, 2020 – Today, the Consumer Financial Protection Bureau (CFPB) released its long-awaited final rule on debt collections. The release of this rule is the biggest development in the … Continue reading →
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By Reuters Staff 3 Min Read WASHINGTON (Reuters) – The United States may still face a wave of debt defaults and “significant declines” in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned on Monday, in … Continue reading →
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The end of October is here, and the Consumer Financial Protection Bureau’s latest rulemaking agenda would signal that its release of the debt collection rule is imminent. ACA International is ready for the release of the final rule, which will … Continue reading →
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The U.S. Court of Appeals for the Seventh Circuit recently held that factually accurate collection letters that did not make explicit or implicit suggestion about future outcomes did not violate the federal Fair Debt Collection Practices Act as they would … Continue reading →
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Credit card issuers are ramping up efforts to attract new cardholders after fears of surging delinquencies failed to materialize when the pandemic disrupted many retail businesses this spring. Capital One Financial (NYSE:COF) and American Express (NYSE:AXP) both embarked on marketing … Continue reading →
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New CRL Report: Debt Collectors in California May Have Seized $700M, Often Based on Scant Evidence & Other Questionable Practices A new report released this week by the Center for Responsible Lending (CRL) finds debt collectors in California may have … Continue reading →
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Heading into third-quarter earnings season, analysts were expecting relatively upbeat results for the largest U.S. banks. Credit costs were expected to decline from the previous quarter, and they did, to a greater extent than expected. Among the 10 largest U.S. … Continue reading →
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The Congressional Research Service (CRS) released a new report this month, “The Debt Collection Market and Selected Policy Issues,” providing an overview of legislative and regulatory activity in the last year as well as the Consumer Financial Protection Bureau’s pending … Continue reading →
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All five major metropolitan statistical areas (MSAs) surveyed posted lower default rates in September, according to data from S&P Dow Jones Indices and Experian. The S&P/Experian Consumer Credit Default Indices, which is a comprehensive measure of changes in consumer credit … Continue reading →
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On October 5, 2020, the U.S. District Court for the Middle District of Florida denied a debt collector’s motion for summary judgment, holding that a letter which provides notice of a change in debt ownership and requests payments be remitted … Continue reading →
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