Collection Industry News

Home - Collection Industry News
administrator
Editorial News

U.S. mortgage rates rise to 6.81%, highest level this year, Freddie Mac says

NEW YORK, July 6 (Reuters) – U.S. 30-year mortgage rates rose to an average of 6.81% this week, the highest level of 2023, according to Freddie Mac’s mortgage market survey. Mortgage rates have risen sharply in tandem with the Federal…
Bankruptcy News

‘Crushing’ debt crisis spells development disaster for billions: UN chie

According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries – almost 40 per cent of the developing world – are in “serious debt trouble”, Mr. Guterres said, backing calls for…
Legal News

Biden signs debt limit bill, avoiding U.S. default

WASHINGTON, June 3 (Reuters) – President Joe Biden on Saturday signed a bill that suspends the U.S. government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default with just two days to spare. The House of Representatives…
Educational News

Biden proposes new student-loan measures after court defeat

WASHINGTON, June 30 (Reuters) – President Joe Biden on Friday announced new measures to provide student loan relief to Americans and condemned the U.S. Supreme Court for blocking a plan to cancel hundreds of billions of dollars in debt that…
Government News

D.C. City Council Passes Final Debt Collection Legislation Taking Effect in 2023

The Washington, D.C., City Council has approved a law to address gaps in the district’s debt collection regulations. The council unanimously approved the “Protecting Consumers from Unjust Debt Collection Practices Amendment Act of 2022,” sponsored by City Council Chairman Phil…
Editorial News

Average long-term US mortgage rate rises to 6.71% in first increase after three straight drops

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week, snapping a three-week pullback after reaching a high for the year in early June. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark…
Bankruptcy News

Credit unions and banks don’t get along, but join forces against CFPB

LONG BEACH, Calif. — Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. …
Editorial News

Best way to hire the best person for a job!

When seeking to hire the most intelligent employee for a position, it’s important to consider a combination of factors beyond just intelligence. Here are some strategies to help you identify and hire highly intelligent individuals: 1. Clearly Define Job Requirements:…
Legal News

New debt collection scam causes AG Nessel to raise alarm

WXYZ) — A new scam using letters posing as the State of Michigan is causing Attorney General Dana Nessel to raise alarm to Michigan residents and businesses. “Posing as our state agencies to scare businesses and workers into paying entities…
Editorial News

Risk mitigation strategies in debt collection

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. These strategies aim to protect the interests of the organization, ensure compliance with regulations, and…