Collection Industry News

Home - Collection Industry News
administrator
Government News

CFPB Targets Double Billing in Medical Debt Collection

The Consumer Financial Protection Bureau (CFPB) is targeting illegal practices among medical debt collectors. The practices include “double-dipping” to get paid for services covered by insurance, harassing consumers to pay “fake or exaggerated charges,” misrepresenting consumers’ rights to contest bills, and collecting debts without…
Editorial News

Treasury likely to keep debt plans in place before US elections

NEW YORK, Oct 28 (Reuters) – The Treasury Department may offer fresh guidance on expected increases in its 2025 debt auctions when it announces its updated refunding plans this week, though uncertainty over the Nov. 5 U.S. elections likely means any details…
Bankruptcy News

FTX creditors will make money on bankruptcy: $1.19 for every dollar

Almost all of the creditors of failed crypto company FTX will end up profiting from the money they put into the exchange, a federal bankruptcy judge ruled Monday. Nearly two years after FTX spiraled into bankruptcy, a Delaware judge approved the…
Legal News

Treasury Announces Marketable Borrowing Estimates

WASHINGTON – The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the October – December 2024 and January – March 2025 quarters.  During the October – December 2024 quarter, Treasury expects to borrow $546…
Educational News

More students are eligible for college aid, but fewer high schoolers enroll — ‘there’s still work to do,’ official says

More students are eligible for federal financial aid, but fewer high schoolers are pursuing a four-year degree. Increasingly, college is becoming a path for only those with the means to pay for it, many studies show.  “We know there’s still work to do and people…
Government News

US watchdog issues warning to medical debt collectors

Oct 1 (Reuters) – The top U.S. consumer financial watchdog on Tuesday warned medical debt collectors they face enforcement action by federal regulators if they illegally attempt to collect on inaccurate or legally invalid medical debts. Around 100 million Americans…
Editorial News

Social Security’s death benefit has been $255 since 1954. Some senators want to change that

When a Social Security beneficiary dies, their loved ones may qualify for a one-time $255 lump-sum death payment. Yet that amount has not changed in 70 years — since 1954 — while inflation has pushed the costs for funerals higher. On Wednesday, Sen.…
Bankruptcy News

J&J subsidiary files for bankruptcy to advance $8 billion talc settlement

A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company’s baby powder and…
Legal News

Here’s what could happen to inflation, jobs and the deficit if Trump or Harris win

In poll after poll, Americans have indicated the economy is their top concern as they prepare to cast votes this election. Dealing with high inflation for years will do that to you. Although inflation has cooled significantly since it peaked at a…
Educational News

US bans Navient from servicing federal student loans

WashingtonCNN —  A federal regulator said Thursday that it is banning Navient from servicing federal student loans and ordering the company to pay $120 million. The agreement settles a lawsuit brought by the Consumer Financial Protection Bureau in 2017, which claimed the company misled…