Editorial News

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…

Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97%…

The use of AI in the sector only looks set to grow; even though just over 10% of collections firms currently employ AI-driven tools in the US, around 60% are considering implementing them. The benefits are clear: AI tools can predict which…

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New…