Debt Collection

How CFPB, FCC rules are reshaping debt collection


Regulatory efforts to protect consumers from harassment and robocalling are forcing big changes. Attorney Quyen Truong at Stroock & Stroock explains.


Card issuers’ new focus on installment lending misses the point


Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options.


Mastercard’s biggest acquisition; GreenSky puts up for-sale sign


The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations.


CFPB extends comment period on debt collection plan


The CFPB is giving the public an additional 30 days so consumer groups have more time to respond.


Morgan Stanley tries the cloud; Santander-Orcel feud escalates


“Digital Vault” will allow customers to store encrypted documents on third-party servers; bank accuses Orcel of misdeeds.


CFPB, N.Y. settlement would ban Buffalo debt collectors from industry


State and federal authorities say the network of firms in upstate New York sought debts that consumers weren't obligated to pay and impersonated government officials, among other things.


Debt settlement firm deceived customers about its services: CFPB


Freedom Debt Relief claimed it could negotiate on consumers’ behalf with creditors that in fact avoided dealing with debt settlement companies, the agency alleges.


FCC robocall ruling a setback for banks, debt collectors


The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession.


CFPB scheduled exams for debt collectors outside its jurisdiction: IG


The watchdog said the CFPB had trouble determining if some medical debt collectors were subject to its oversight, yet the exams were canceled before their start dates.