Debt Collection

Supreme Court ruling in foreclosure case is a win for lenders


In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers.


Madden lawsuit nears end, but online lenders still seek fix from regulators


The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.


'What the heck do you think the CFPB was set up for?': Comments of the week


Readers consider Square's bid to become an industrial loan company, weigh the Federal Deposit Insurance Corp.'s oversight of brokered deposits and debate reforms to the Consumer Financial Protection Bureau.


Dear CFPB: Revamp your complaint database


Under the recently appointed Director Kathy Kraninger, the bureau has the opportunity to address numerous problems with its collection and presentation of consumer grievances.


New Paper: Consumer Protection After the Global Financial Crisis


Historian Ed Balleisen and I have just posted a paper of interest to Credit Slips readers who are interested in consumer protection, financial crises, and inputs into post-crisis policymaking more generally. I will let the abstract speak for itself:


CFPB fines payday lender Cash Tyme for overcharging customers


The lender collected at least $21,800 that consumers did not owe and harassed borrowers' personal references, according to a CFPB settlement.


SCRA and the Coast Guard in the Shutdown


The Coast Guard apparently briefly had some advice for furloughed guardsmen that included "Bankruptcy is a last option."  The leaped out at me as strange.  What about the Servicemembers Civil Relief Act, a special act that provides protection for active duty military members and their dependents against collection actions?


Building a safety net for when the consumer debt balloon pops


LendStreet is looking to break the circle of debt that often arises when struggling borrowers try to consolidate what they owe.


CFPB once again enters new year with direction TBD


The biggest question is whether new CFPB Director Kathy Kraninger will deviate from the pro-industry policies of her predecessor, or bring continuity.