Editorial News

The Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) with its annual summary of activities to protect consumers in the debt collection arena. The summary is used by CFPB in its annual report to Congress on the activities of…

A Collection Agency means a person who engages directly or indirectly in the business of collecting for, or soliciting from another, a consumer claim; or collecting a consumer claim the person owns, if the claim was in default when the person acquired…

In 2023, The World Bank’s warning that the global economy would come ‘perilously close’ to a recession became a reality. As we step into 2024 still navigating uncertain waters, financial outlooks are still predicting that we’ll see the symptoms of a stretched…

A US bank says more than seven million people are affected by a major hack and data breach that’s impacting multiple financial firms and their customers. A new data breach notice at the Office of the Maine Attorney General shows a total…

Oracle has agreed to a settlement in a consumer privacy lawsuit that dates back to 2018, offering to pay out $115 million in total for the sale of user data to third parties. The lawsuit alleged that Oracle made $42.5…

Consumer debt continues to accelerate at an alarming rate—particularly credit card debt—driven by a culture of consumption. Credit card debt is one of the most worrisome due to the high interest rates charged by credit card companies, which can leave…

While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S. household debt…

WASHINGTON – The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the April – June 2024 and July – September 2024 quarters.  During the April – June 2024 quarter, Treasury expects to borrow $243…

WASHINGTON, – U.S. President Joe Biden will play host this week to Kenyan President William Ruto for wide-ranging talks expected to include debt relief for Kenya as well as the way forward for Haiti, Ukraine, Sudan and other areas. Kenya…

Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy cases remain significantly lower than before the start of…