Proposing a specific limit on debt collectors but also providing a safe harbor for compliance, the Consumer Financial Protection Bureau (CFPB) has issued proposed regulations that would allow debt collectors to contact consumers about time-barred debt as long as the … Continue reading →
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The phenomenon of zombie debt is not new to the U.S. economy — nor are consumer complaints about collection agencies that use aggressive tactics in the service of collecting such debt. For those unfamiliar with the term, zombie debt … Continue reading →
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Bloomberg/Getty Images Under a rule proposed by the Consumer Financial Protection Bureau (CFPB), borrowers with old debt would need to receive notices from debt collectors trying to collect payments. But some consumer advocates oppose the proposal, saying the disclosures could … Continue reading →
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WASHINGTON — Federal Housing Finance Agency Director Mark Calabria has authorized Fannie Mae and Freddie Mac to contribute a total of $502.2 million to the National Housing Trust Fund and the Capital Magnet Fund — the largest contributions the government-sponsored … Continue reading →
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On February 10, the CFPB denied a debt collection law firm’s request to modify or set aside a third-party Civil Investigative Demand (CID) issued to the firm by the Bureau while investigating possible violations of the FDCPA, CFPA, and the … Continue reading →
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Keith Ridler, Associated Press BOISE, Idaho (AP) — Legislation to create transparency in medical bills sent to patients and to rein in predatory medical debt collectors headed to the Idaho Senate Monday after an extraordinary debate in the House. Representatives … Continue reading →
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Report estimates 1 in 5 Nevadans have some form of medical debt in collections By Pashtana Usufzy – February 26, 2020 Facebook Twitter (Getty Images) Across the country, a reckoning is taking place over medical debt stemming from hospital visits. … Continue reading →
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Executive Summary Household debt is at a record high, but as a share of GDP it is way down from its 2008 peak. The lower debt share today suggests that households are in better shape. But when we look at … Continue reading →
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A new proposal from the Consumer Financial Protection Bureau could spark a fight over what should happen to consumers’ old debts. Debt collectors lose the right in many states to sue consumers after their debt reaches their statute of limitations, … Continue reading →
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CAPE GIRARDEAU, MO (BBB) — The Better Business Bureau urges consumers to learn what collection agencies legally can and cannot do and to stay vigilant against debt collection scams. By law, debt collectors can contact consumers by phone, letter, email … Continue reading →
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