The Pennsylvania Attorney General's office has charged three people allegedly involved in a counterfeit credit card operation that stole tens of thousands of dollars by using fake credit cards with matching driver's licenses to make purchases and cash advances across the state. Collection & Credit Risk
Soaring student loan delinquencies and the aftershocks of the 2008 economic downturn have kept people in the Millennial generation from being able to buy their own home, Housing and Urban Development Secretary Julián Castro said during a recent speech. Collection & Credit Risk
Mortgage underwriting overlays are not only tighter than they were precrisis, they're more restrictive than they were 15 years ago — a trend that Department of Housing and Urban Development Secretary Julian Castro wants to change. News
Today, we’re announcing a research pilot aimed at assessing the potential impact of early intervention credit counseling. We know that defaulting on credit card debt is a very stressful event for anyone and impacts consumers’ ability to access credit in the future. We’d like to use this opportunity to explore what ways may help consumers [...]
Join us for a Credit Union Advisory Council meeting with Director Cordray on Wednesday, October 1 from 3:30 p.m. to 5:30 p.m. EDT. During this meeting, we’ll discuss overdrafts and consumer complaints. Consumer Financial Protection Bureau 1275 First Street, NE Washington, D.C. 20002 This event requires an RSVP. Send us an email to RSVP. A [...]
The ability to stop using credit cards and pay cash for purchases can be a sign of financial stability as it proves a person’s lifestyle is in line with their income, according to an industry association. Not surprisingly, many people are in the danger zone. Collection & Credit Risk
Yesterday, Home Depot confirmed that there has been a breach of its payment data systems. According to the company, the breach could potentially impact any customer that has used their card for payment at a Home Depot in the U.S. or Canada since April 2014. Here’s what you can do to protect yourself if you [...]
What could be better than zero percent interest for one year? Nothing, nada, free…right? Not exactly. These kinds of promotional rates are common with credit card offers. They can be connected to: Balance transfer offers Pitches for low-cost ways to finance big purchases, such as “deferred interest” offers So-called “convenience checks,” which invite you to [...]
Balances on new cards are still below levels reported before the 2008 recession, despite an increase in open accounts. Collections - Credit Card
A new report from TransUnion indicates consumers are doing a better job of making timely payments even as lenders extend credit more often to people with troubled credit histories. Collections - Credit Card
