Collection Industry News

After dropping sharply, mortgage interest rates rose last week for the first time in a month. That pushed total mortgage demand down 8.5% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract…

President Donald Trump on Wednesday urged U.S. lawmakers to pass legislation to limit credit card rates to 10%, following his social media post this month ordering banks to voluntarily lower their rates. “I’m asking Congress to cap credit card interest rates at 10% for…

The Education Department announced on Friday that it will delay the implementation of wage garnishment and other involuntary collection efforts affecting defaulted student loan borrowers. The department said the delay affects involuntary collections on federal student loans through wage garnishments and the Treasury Offset…