Statute of Limitations for Credit Reporting
Consumer borrowing to a record high in February, fueled by a large jump in auto and student loans. The value of non-revolving debt climbed by the most since July 2011. Collection & Credit Risk
Today, we’re announcing an enforcement action against Alabama-based Regions Bank for charging overdraft fees to consumers who had not opted-in for overdraft coverage. We’re requiring Regions Bank to fully refund all affected consumers – hundreds of thousands of consumers have already been refunded $ 49 million in fees. We’re also fining the company $ 7.5 [...]
Ninety-two percent of Americans are "very or somewhat confident" in their most recent big financial decision - such as picking a credit card, buying a car or refinancing a mortgage, according to a survey by the National Foundation for Credit Counseling and NerdWallet. Collection & Credit Risk
Bank card and closed-end loan delinquencies rose in last years fourth quarter but were still near record lows, according to the American Bankers Associations Consumer Credit Delinquency Bulletin. Collection & Credit Risk
Join us for the Academic Research Council’s annual meeting on Thursday, May 7 from 9:00 a.m. to 12:00 p.m. EDT. During this meeting, we’ll discuss trends in consumer finance research, the activities of consumer financial protection agencies in other countries, and recent publications produced by CFPB’s Office of Research. Director Cordray will also provide remarks. [...]
The Consumer Financial Protection Bureau issued a final rule Wednesday aimed at improving the way that companies submit consumer credit card agreements to the Bureau. Collection & Credit Risk
Fair Isaac is developing a credit score aimed at the millions of people who are unable to obtain credit cards, auto loans and mortgages because lenders consider them to be too risky. Collection & Credit Risk
WASHINGTON Large mortgage servicers continued to shed delinquencies as overall loan performance improved in the fourth quarter, the Office of the Comptroller of the Currency said Friday. Collection & Credit Risk
A federal court has halted the operations of a company that calls itself "FTC Credit Solutions." The company allegedly used false affiliation with the FTC to market bogus credit repair services to Spanish-speaking consumers. Collection & Credit Risk