The Consumer Complaint Database of the Consumer Financial Protection Bureau (CFPB) is a “canary in the coalmine” for problems in the financial marketplace. Launched in 2012, the database lists the thousands of complaints submitted each month to the nation’s chief … Continue reading →
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RALEIGH, N.C. (WNCN) – Congress intended to help people in need of financial relief when it authorized billions of dollars of stimulus money to be distributed. However, some are concerned that debt collectors may take those checks. North Carolina Attorney … Continue reading →
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Local News by: Johan Sheridan Student loan debt. (Cari Dobbins / Pixabay) ALBANY, NY. (NEWS10) — Gov. Andrew M. Cuomo announced relief for about 300,000 New Yorkers with student loan debt on Tuesday. Cuomo says he reached an agreement with … Continue reading →
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On March 30, the Illinois Department of Financial and Professional Regulation (“the Department”) issued a statement, accessible here, providing guidance to licensed debt collectors and debt buyers relaxing statutory guidelines mandating that collection actions only take place at their registered … Continue reading →
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More Americans filed for unemployment last week than in any week in our history. At 3.3 million, that’s nearly five times as much as the record set in 1982 and far surpasses any week during the Great Recession of 2008-2010. Many of us have friends … Continue reading →
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DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from … Continue reading →
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Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). The CECL … Continue reading →
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As identified coronavirus infections increase rapidly in the U.S., the biggest economic effects will be felt months from now. Still, analysts at Oppenheimer have projected that five U.S. credit card lenders will remain profitable in 2021, despite a large increase … Continue reading →
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Borrowers who have defaulted on their federal student loans will get a temporary reprieve from having their wages, Social Security benefits and tax refunds garnished by the federal government, the U.S. Education Department announced on Wednesday. This break will last … Continue reading →
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Wednesday, March 25, 2020 Last week in Gonzales v. Credit One Bank, N.A., No. 19-cv-00733-DAD-BAM, 2020 U.S. Dist. LEXIS 46236 (E.D. Cal. March 17, 2020), the court compelled arbitration of a plaintiff’s TCPA lawsuit against Credit One. Plaintiff sued Credit One … Continue reading →
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