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Total Household Debt Reaches $17.06 Trillion in Q2 2023; Credit Card Debt Exceeds $1 Trillion

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16…
Press Release

Dudley Resources Case Study: Successful Asset Recovery and Liquidation for Simply Mac

In the realm of comprehensive asset recovery solutions, Dudley Resources (DR) shines as a beacon of excellence. This case study showcases the remarkable success achieved through DR’s strategic partnership in the liquidation of Simply Mac. (SM), a company that faced…
Bankruptcy News

Americans’ credit card debt hits a record $1 trillion

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York. During the second quarter, credit card balances…
Legal News

US private funds industry sues securities regulator over new rules

NEW YORK, Sept 1 (Reuters) – Six private equity and hedge fund trade groups on Friday sued the U.S. Securities and Exchange Commission (SEC), arguing the agency overstepped its statutory authority when adopting sweeping new expense and disclosure rules last week.…
Educational News

Over half of student loan borrowers racked up credit card debt during the payment pause—now experts worry about ‘shock’

Federal student loan borrowers have had a break from paying back their student loans for over three years now.  Though the forbearance may have given them breathing room, helped them add to their savings or pay down other debts, inflation creeping up throughout…
Government News

Mortgage rates rise to just short of 7%

US mortgage rates rose for the third week in a row but stayed just under the 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie…
Press Release

Dudley Resources – Your Funding Source for Debtor Payments and Settlements

Welcome to Dudley Resources, a leading asset recovery solutions provider specializing in unlocking maximum value for various assets. Our comprehensive services cater to businesses dealing with debtor companies or surplus inventory. With over 40 years of industry experience, we have…
Editorial News

CFPB Explores AI’s Impact on Consumers’ Relationships With Financial Institutions

A key pillar of the relationship between consumers and their financial institutions is effective customer service. We consumers expect that the financial institutions we trust to hold our money will provide us with prompt and responsive assistance when we ask…
Bankruptcy News

US bank regulators announce sweeping proposals on capital rules

WASHINGTON (Reuters) – U.S. regulators unveiled a sweeping overhaul Thursday that would direct banks to set aside billions more in capital to guard against risk. If fully implemented, the proposal would raise capital requirements for large banks by an aggregate…
Legal News

Mortgage Delinquency Rate Reaches Historic Low in May

CoreLogic report attributes healthy mortgage performance to strong job market. A new report from CoreLogic found the overall delinquency rate for U.S. mortgages dropped to a record low of 2.6%, down from 2.7% in May 2022 and 2.8% in April…