Collection Industry News

Home - Collection Industry News
administrator
Legal News

Feds say Virginia towing company illegally sold service members’ cars

Source-site NORFOLK, Va. — Federal prosecutors have filed a lawsuit accusing a Virginia company of illegally taking and selling service members’ vehicles. The lawsuit filed Friday accuses Steve’s Towing of Virginia Beach of illegally seizing and selling vehicles belonging to…
Legal News

FTC Action Results In $4.86 Million In Refunds To Victims Of Abusive Debt Collectors

Source-site Annual report reveals scope of abuse in debt collection industry The Federal Trade Commission (FTC) issued its annual report on enforcement of the Fair Debt Collections Practices Act (FDCPA) today and revealed that its enforcement actions resulted in millions of dollars…
Government News

70% of Americans Admit to Bad Spending Habits

Source-site Is saving money a big goal of yours? You might really struggle to achieve it if you don’t manage to keep your spending in check. And if you’ve struggled in that regard, you’re in good company. In a new CouponFollow survey, 70%…
Educational News

Department Of Education Moves To Make Owners, Investors, And Controlling Parties Responsible For College And University Liabilities

Source-site On March 23, 2022, the U.S. Department of Education (“Department”) announced a significant new policy that, in some cases, will require owners, investors, and controlling parties of private colleges and universities to guarantee the regulatory liabilities of the school.…
Bankruptcy News

Student loan companies ‘abusing the bankruptcy system’ will face consequences: CFPB letter

Source-site Student loan companies will face consequences if they mislead borrowers and collect on private debt that has been discharged by a bankruptcy court, according to a letter sent by the country’s top consumer watchdog to Senator Dick Durbin (D-IL) that…
Educational News

How U.S. Got $1.6 Trillion in Student Loans Debt

Source-site The student loan crisis is a hot topic of conversation in Washington because student debt is felt by a lot of us, 45 million of us to be exact, for a total debt of 1.6 trillion dollars. We often break…
Legal News

Ocwen-CFPB Case Sent Back To Lower Court

Source-site In a ruling that splits the differences in a long-running legal battle between the positions of Ocwen and the Consumer Financial Protection Bureau, the Eleventh Circuit Court of Appeals has remanded the case to the original jurisdiction for a…
Legal News

Credit Report Complaints Jumped In 2021

Source-site The pandemic forced Arizonans to do a lot of things they might not have done before — like getting to know their credit reports better than ever. Arizonans went from filing 6,600 complaints with the Consumer Financial Protection Bureau…
Government News

Lt. Gov Kounalakis Signs Eviction Moratorium Extension Bill Into Law

Source-site First passed in the early months of the COVID-19 pandemic in the spring of 2020, statewide eviction moratoriums have been extended numerous times in 2020, in 2021, and, due to the rise of different variants, through 2002 until March 31st of…
Educational News

After Massive NYC Student Data Breach, Here Are Steps You Can Take To Protect Your Family

Source-site New York City officials recently acknowledged that the personal information of about 820,000 current and former students was compromised in a cybersecurity lapse. Find out what’s happening in New York Citywith free, real-time updates from Patch. If you’re a caregiver…