Collection Industry News

Home - Collection Industry News
administrator
Legal News

FTC Settles with Debt Collector

On May 1, 2025, the Federal Trade Commission (FTC) announced that it had filed an amended complaint​ and entered into a proposed final order with a debt collector and its owner, resolving allegations that the company engaged in a fraudulent debt collection scheme. In its amended complaint,…
Legal News

FTC Action Leads to Court Order Halting Phantom Debt Collection Scheme That Took Millions from Consumers and Threatened Consumers’ Credit, Homes, and Employment

As result of FTC lawsuit, federal court issues temporary restraining order halting scheme that sent fictitious debt collection notices to consumers nationwide As a result of a Federal Trade Commission lawsuit, a federal court has temporarily halted the operations and frozen the…
Educational News

Trump administration to garnish wages of 5.3 million defaulted student loan borrowers this summer

The Trump administration resumed collection efforts on defaulted student loans Monday after a roughly five-year hiatus — and affected borrowers could begin feeling the financial consequences sooner than experts expected. The U.S. Department of Education released new details on what actions it plans to take, when.…
Government News

CFPB Seeks to Vacate the Medical Debt Rule

The CFPB on April 30, 2025, reached an agreement with lender trade groups to vacate the Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information Rule (the Medical Debt Rule). The joint motion for entry of consent judgment was…
Editorial News

March 2025 Consumer Litigation Filings: Everything Up

By David N. Anthony on April 23, 2025 Posted in All Entries, Consumer Financial Protection Bureau (CFPB), FCRA, FDCPA, State Attorneys General, CFPB + FTC, TCPA According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer…
Bankruptcy News

New federal rule removes medical debt from credit reports

On Jan. 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will ban the inclusion of medical debt on credit reports and prohibit lenders from using medical information in their approval decisions. The CFPB estimates the rule change will…
Legal News

Weekly mortgage demand suddenly surges, despite lingering economic uncertainty

Mortgage interest rates dropped for the second straight week, although not by a lot. That was thanks to more negative news on the economy. But despite all that, weekly mortgage demand surged higher by 11%, according to the Mortgage Bankers…
Educational News

Trump’s education boss reveals greedy truth behind Biden’s student loan forgiveness: ‘They have profited massively’

President Trump’s education boss Linda McMahon has defended the administration’s decision to resume student loan debt collections — insisting that greedy colleges have “profited massively” from Biden-era forgiveness measures. The Department of Education announced Monday it would start recouping federal student repayments…
Government News

April Consumer Chapter 7 Bankruptcy Filings Increase 16 Percent from Previous Year

NEW YORK/ALEXANDRIA, VA. – May 2, 2025 — The 30,961 individual chapter 7 filings in April 2025 represented a 16 percent increase over the 26,781 filings recorded in April 2024, according to data provided by Epiq AACER, the leading provider of U.S.…
Editorial News

Key Driver Transforming The Debt Collection Agencies Market 2025: Rising Consumer Debt Levels Fuel Growth In The Market

The Business Research Company’s Debt Collection Agencies Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034 LONDON, GREATER LONDON, UNITED KINGDOM, March 31, 2025 /EINPresswire.com/ — Get 20% off on Global Market Reports until March 31st! Use…