The fund exceeded its $1 billion target in five months of fundraising despite the lack of in-person meetings, and attracted 55% of the commitments from new investors. ... Read full article
The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance. ... Read full article
Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A. ... Read full article
The pandemic is taking a toll on tax receipts, leading the central bank to establish a municipal debt facility. Without a turnaround, the consequences for the financial system could be dire. ... Read full article
CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements. ... Read full article
The Consumer Financial Protection Bureau's first "National Financial Well-Being Survey" found that a large slice of consumers experience financial hardship. ... Read full article
A federal judge sanctioned the Consumer Financial Protection Bureau on Friday by dismissing a massive lawsuit against several payment processors, saying the agency demonstrated a "willful disregard" for court rules. ... Read full article
The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market. ... Read full article
Readers chime in on the GSE conservatorships, bitcoin’s future, regulatory relief for regional banks, a recent Supreme Court ruling on debt collection, and more. ... Read full article
Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision. ... Read full article
The Consumer Financial Protection Bureau said banks and other first-party creditors are responsible for the accuracy of information on consumer debts. ... Read full article
Justices on the Supreme Court appeared exasperated with both sides for a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities. ... Read full article
Energy companies that are struggling to avert bankruptcy have recently been relying on a tool to buy time called a distressed-debt exchange. For some of them, that tactic may not work for much longer. ... Read full article
