Debt Collection

Tech could help reinvent debt collection


Better analytical tools could help banks spot and address potential issues before a customer goes delinquent.


Preparing banks for climate change; Swaps rules ease considered


The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.


CFPB plan a mixed bag for debt collectors


The long-awaited proposal includes safe harbors to protect collectors from getting sued, but would restrict phone collection attempts and allow borrowers to opt out of receiving other communications.


Debt collectors need clearer telecom rules


As the CFPB moves closer to updating its debt collection regulations, revising restrictions on phone calls and other communications with consumers must be a priority.


CFPB announces debt collection town hall as it preps new proposal


The debt collection proposal is expected to address how debt collectors can use text messages and emails to track down debtors.


The Student Loan Tax


Democrats’ policy proposals have sparked a vital and overdue debate on our system to pay for post-secondary education, and how that system burdens and redistributes income. The existing system combines a small share of taxpayer funding (via the Pell Grant) with a large share from the student loan tax. The student loan tax requires the students themselves to pay a percentage of their income for 20 to 25 years, collected not by the IRS but by private contractors for the US Education Department.


Wisconsin credit unions, banks get legal win in collections case


The Wisconsin Supreme Court upheld a "narrow interpretation" of a state-level consumer-protection law that maintains lenders' rights to collect debts without fear of being sued for damages.


JPM exec shuffle, U.S. Bank’s first digital chief, CFPB and debt collection: Top stories of the week


Whether JPMorgan tipped its hand on a succession plan; U.S. Bank hires its first chief digital officer; all eyes on CFPB as it modernizes its debt collection rules; and more from this week’s most-read stories.


Kraninger outlines her vision for a revamped CFPB


In her first policy speech since being confirmed as the agency's director, Kathy Kraninger promised less focus on enforcement actions and more emphasis on consumer education.


How far will CFPB go to modernize debt collection rules?


A key question is whether the agency will restrict the ability of firms to track down delinquent borrowers with emails and text messages, which weren't in use when current regulations were adopted.