At a glanceWednesday, November 30, 2022

Collection Industry News At A Glance - November 30, 2022
Wednesday November 30, 2022
Mid Week Newsletter: Subscribe for Free - More Information - Advertising


Pax­ton Con­cludes Data Breach Inves­ti­ga­tions, Col­lects Set­tle­ments of Over $1.5 Mil­lion from Exper­ian and T‑Mobile

Attorney General Ken Paxton has announced that his office, along with a coalition of other state attorneys general, has obtained settlements totaling more than $16 million with Experian Data Corp., Experian Information Solutions, and T-Mobile.  

Read More
ACA International Leads Advocacy Against NCLC Petition for Rulemaking on Medical Debt Credit Reporting

ACA International is pushing back on a petition from the National Consumer Law Center, which asks the Consumer Financial Protection Bureau for a rule banning medical debts from credit reports.

Read More
Office of Research blog: Higher interest rates leading to higher debt burdens for mortgage borrowers

Mortgage interest rates rose sharply over recent months. While we’re beginning to see the impact of these changes on borrowers and potential homebuyers, fresh data can provide valuable and timely insights into the risks and trends in the overall mortgage markets that would otherwise not be available until later time.

Read More
FTC Halts Debt Relief Scheme that Bilked Millions from Consumers While Leaving Many Deeper in Debt

The FTC has temporarily shut down a credit card debt relief scheme operated by Sean Austin, John Steven Huffman, and John Preston Thompson and their affiliated companiesthat allegedly took millions from people by falsely promising to eliminate or substantially reduce their credit card debt.

Read More
Millennials have the most credit card debt in these 10 places — and California’s not on the list

On average, millennials owe about $4,930 in credit card debt, according to the latest data from credit bureau Experian. But in some places, the average amount of credit card debt for millennials, who range in age from 26 to 41, is even higher. In Alaska, for example, millennials carry an average balance of about $5,388, according to Experian’s 2021 study, the most recent data available on the state level.

Read More
NY Gov. Signs Legislation Prohibiting Property Liens Over Medical Debt

November 29, 2022 - New York Governor Kathy Hochul has signed legislation aiming to protect patients with medical debt from facing wage garnishment or liens on their property.

Read More
Cyber Monday deals lure in consumers amid high inflation

NEW YORK (AP) — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation.

Read More
CFPB Seeks Supreme Court Appeal of Funding Ruling

On November 14, the Consumer Financial Protection Bureau (“CFPB”) filed a Petition for a Writ of Certiorari with the Supreme Court for Community Financial Protection Bureau et al. v. Community Financial Services Association of America, Ltd. et al

Read More
CFPB Releases Analysis of Consumer Complaints Related to Crypto-Assets

Pointing to a growth in consumer complaints related to crypto-assets, on November 10th, 2022, the Consumer Financial Protection Bureau (the “CFPB”) released a Complaint Bulletin, which analyzed in excess of 8,300 consumer complaints that the CFPB had received related to crypto-assets.

Read More
Good news: Personal loan interest rates edge down for 5-year fixed-rate loans

Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were higher for 3-year fixed-rate loans and lower for 5-year loans compared to the previous seven days.

Read More
Here Are Mortgage Rates for Nov. 28, 2022: Rates Decrease

Some important mortgage rates tailed off over the last week, though rates are generally expected to rise this year. If you're shopping for a mortgage, see how your future mortgage payments could be affected by interest rate hikes.

Read More

Portfolios For Sale

$4,694,857.69 Retail
Sea Side Management, LLC

(800) 917-7183

Read More

Industry Events

RMAi 2023 Annual Conference

Join us in Las Vegas, February 6-9, for the 2023 RMAI Annual Conference. Registration opens October 3, 2022.

Las Vegas , Nevada
February 06 - 09 , 2023

916 462 2462