States Where Debt Is Increasing the Most During COVID-19
Steel Rose
Though debt in collection increased slightly, the percentage of people with debt in collection actually declined — edging down from 29.68% to 29.1%, a drop of 0.58 percentage points. That belt-tightening helped Americans bolster their credit score. The median credit score increased by 11 points, from 693 to 704. According...
READ MORELaw Requires Significant Changes for Collection Actions Brought in New York
New York Governor Kathy Hochul signed the Consumer Credit Fairness Act (the Act) into law. The Act will likely have substantial impact…
Hunstein en banc Rehearing Court Requests Briefs on Standing
Last week, the U.S. Court of Appeals for the Eleventh Circuit ordered rehearing en banc in Hunstein v. Preferred Collection and Management Services…
Collector Shut Down, Banned in Buffalo, Fined $1.2 Million
NY AG Letitia James announced she is shutting down an illegal debt collection scheme operating in western New York and…
Hunstein: The Eleventh Circuit Cavalry Arrives
It’s been a long, strange trip through the 11th U.S. Circuit Court of Appeals for Hunstein v. Preferred Collection &…
NY Consumer Law Reduces SOL to 3 Years & Payment Does Not Revive SOL
New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (Legislation S.153/A.2382). The Act amends provisions of New York’s…
DataBona Fide Error Defense Database Published for CFPB Debt Collection Rule Text Messages
Under the CFPB’s Debt Collection Rule, debt collectors who adopt and follow certain procedures can obtain a bona fide error…
Synchrony Bank Will Pay $3.5 Million to Settle a Collection Calls Lawsuit
Los Angeles County District Attorney George Gascón announced today that Synchrony Bank will pay $3.5 million to settle a civil…
Watchdog Finds CFPB Quality Management Program Lacking
A 38 page report found deficiencies in the Consumer Financial Protection Bureau’s (CFPB) quality management program for its supervision activities. The quality…
Americans Feel Lousy about Their Finances Even Though They're Doing Fine
While several indicators show that Americans’ finances remain in good shape nearly two years into the pandemic, many folks aren’t…
