Collection Industry News

Home - Collection Industry News
administrator
Legal News

USD 875 billion property debt set to mature, regional banks at risk?

Around USD 875 billion in commercial real estate (CRE) debt in the United States is scheduled to mature in 2026. This wave of refinancing comes at a time when interest rates are significantly higher than when many of these loans…
Editorial News

Illinois, Cook County wipe out $2B in medical debt for pennies on dollar

SPRINGFIELD — When Kayleigh White opened a plain white envelope stamped “UNDUE” in big, bold blue letters late last year, she threw it away. The 27-year-old Rochelle resident assumed it was junk mail, or maybe a scam. The letter claimed that her…
Government News

New York City Finalizes Expanded Debt Collection Rules Covering Original Creditors and Third-Party Collectors

The New York City Department of Consumer and Worker Protection (NYC DCWP) has adopted a comprehensive set of amendments to its debt collection rules, effective September 1, 2026. The final rule clarifies that New York City’s consumer protection framework applies not only…
Bankruptcy News

Mortgage rates hit lowest level in nearly 4 years, but homebuyers are still stuck on the sidelines

Mortgage rates dropped sharply last week, and while that helped to prolong gains in refinancing, homebuyer demand seemed unimpressed. Total mortgage application volume was essentially flat, rising just 0.4% compared with the previous week, according to the Mortgage Bankers Association’s…
Bankruptcy News

Saks Global gets final court approval for $1 billion bankruptcy loan after addressing vendor complaints

Feb 20 (Reuters) – A U.S. bankruptcy judge on Friday gave final approval to Saks Global’s bankruptcy financing, which provides $1 billion in new funding to the company, after Saks reached deals with luxury brand vendors that had raised concerns…
Legal News

US consumer confidence improves modestly in February after cratering the first month of 2026

The American consumer’s confidence in the US economy improved slightly in February after cratering a month earlier. A measure of Americans’ short-term expectations for their income, business conditions and the job market rose four points to 72, remaining well below…
Educational News

Some student loan borrowers are getting Navient settlement checks — here’s who qualifies

Some student loan borrowers can soon expect a check in the mail, more than a year after the Consumer Financial Protection Bureau reached a $120 million settlement with former federal servicer Navient. The CFPB said Navient steered student loan borrowers away from affordable repayment plans…
Editorial News

Supreme Court Trump tariff decision impact: What to expect as fight for billions in refunds begins

U.S. importers will be facing many hurdles trying to recover billions in tariff costs now that the Supreme Court has ruled President Donald Trump’s International Emergency Economic Powers Act, or IEEPA, tariffs are illegal. Companies large and small may be eligible for refund…
Government News

Government spending lifts global debt to a record $348 trillion in 2025, says IIF

Global debt climbed to a record $348 trillion at the end of 2025, after nearly $29 trillion was added over the year in the fastest yearly build-up since the pandemic surge, a banking trade group reported on Wednesday. The increase…
Bankruptcy News

Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring

Spirit Airlines is gearing up to shrink to a tiny version of its former self, focusing on high-demand travel periods and routes as well as expanding premium-class seats in an attempt to survive, according to a new plan it unveiled in U.S.…