Collection Industry News

Home - Collection Industry News
administrator
Educational News

Federal student loans will still be a ‘better bet’ than private—even with coming changes, experts say

The question of whether college students should take out federal or private student loans to pay for their education may have just gotten harder to answer. That’s due to a number of changes in President Donald Trump’s so-called “big beautiful bill” that will affect…
Editorial News

The Fed held interest rates steady, but some credit card APRs keep going up. Here’s why

Even with the Federal Reserve on the sidelines, credit card rates are edging higher. In June, credit card interest rates rose for the third straight month, hitting the highest level since December, according to a recent report by LendingTree. Now, the average annual percentage rate is just…
Bankruptcy News

FTC to Ban Debt Collector Who Allegedly Coerced Consumers into Paying Debt They Didn’t Owe

The Federal Trade Commission alleged that Global Circulation, Inc. (GCI) and its owner, Kenneth Redon III, threatened consumers with jail time, lawsuits, and wage garnishments to pressure them into paying debt they didn’t actually owe. In an amended complaint, the FTC…
Press Release

Commercial Collection Agencies of America’s President Named to California DFPI’s Committee on Debt Collections

June 19, 2025-Chicago-Commercial Collection Agencies of America has announced that its President, Mr. Humberto Matz, has been appointed to the California Debt Collection Advisory Committee of the California Department of Financial Protection and Innovation. In May, Commissioner KC Mohseni appointed…
Legal News

Mortgage demand drops, even as rates fall to the lowest since April

Weak consumer sentiment is weighing hard on the housing market, as potential homebuyers pull back. Applications for a mortgage to purchase a home fell 3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted…
Educational News

Federal student loan interest rates just fell for the first time in 5 years—here’s what borrowers will pay on new loans

Students and families borrowing money for college will get a slight reprieve for the upcoming school year. The interest rate for undergraduate federal student loans disbursed between July 1, 2025 and June 30, 2026 will be 6.39%, down from 6.53%…
Press Release

Ragan Named to Independent Standards Board

June 5, 2025-Chicago-Commercial Collection Agencies of America is proud to announce the appointment of ConradRagan to the Independent Standards Board effective immediately. Ragan was recently approved by his Standards Board peers. “We are grateful that Conrad has joined the Board,which…
Government News

Senate version of Trump’s budget bill would raise the debt ceiling by $5 trillion—what it could mean for your wallet

Senate Republicans are backing a budget package that would raise the debt ceiling by $5 trillion, the largest increase in U.S. history, raising questions about its economic impact. The proposal is part of President Donald Trump’s “One Big Beautiful Bill Act” and would…
Editorial News

OCC’s Hood Emphasized AI Oversight and Inclusion in Financial Services

On April 29, Acting Comptroller of the Currency Rodney Hood delivered pre-recorded remarks at the National Fair Housing Alliance’s Responsible AI Symposium.  In his speech, Hood reiterated the OCC’s commitment to deploying AI responsibly within the banking sector and highlighted the agency’s…
Bankruptcy News

Bankruptcies Rise 13.1 Percent Over Previous Year

Bankruptcy filings rose 13.1 percent during the 12-month period ending March 31, 2025. That is a similar rate of acceleration as in the Dec. 31, 2024, quarterly report, but new bankruptcy cases remain significantly lower than after the 2007-08 Great…