A Washington state law that restricts payday loan marketing to poor families has caused the states payday lenders to lose three-quarters of their business in the five years since it was enacted, according to published reports. Collection & Credit Risk
South Dakota's Senate Commerce and Energy Committee was scheduled to hold a hearing Tuesday on a state Revenue Department proposal to open a state debt collection office. Collection & Credit Risk
In the U.S., 1.7% of credit card accounts are more than 30 days past due, which includes people who have let their bills go unpaid for more than 60 and 90 days, according to new data. Collection & Credit Risk
Two federal agencies and 15 states have taken more than 40 actions against foreclosure relief operations, alleging the firms charged distressed borrowers millions of dollars in fees without following through on service. News
