Google Alert – debt collection

Posted on May 11, 2016 by The Debt Collector
debt collection

As-it-happens update  May 10, 2016


Texas-based debt collection agency Credit Protection Association (CPA) is agreeing to pay a penalty and adopt new policies in order to settle charges …

  

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Google Alert – debt collection

Posted on May 11, 2016 by The Debt Collector
debt collection

As-it-happens update  November 30, 2014


Police spokesman Prawut Thawornsiri said there were five members in this debt–collection gang, which was a cog in the alleged crime machine of …

  

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Cordray’s bureau posts complaints on banks, credit agencies, debt collectors

Posted on June 26, 2015 by The Debt Collector

By Jeff Horwitz and Ken Sweet

Associated Press  •  Friday June 26, 2015 12:43 AM

WASHINGTON — The Consumer Financial Protection Bureau released thousands of complaints on Thursday from disgruntled customers of banks, credit-card companies and other providers of financial services.

The bureau posted a database of the grievances on its website over vehement protests from the financial industry. The database contains 7,700 complaints filed online by people who agreed to air their complaints publicly.

The CFPB offers a disclaimer that it does not investigate the substance of the complaints before posting them. Some postings come with spelling errors, some with gratuitous capitalization of words. The bureau hopes the compilation of the grievances will point both it and the general public to the personal financial trouble spots of the day.

The targets of the complaints vary widely, and include small debt-collection companies as well as Wall Street giants. Among the complaints: U.S. Bank supposedly gave a Wisconsin parent’s young son a credit card with a $4,500 limit that he didn’t request, and a California couple reported finally catching up on mortgage payments to M&T Bank, only to be told they were still a month in arrears.

Read more here: The Columbus Dispatch

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Sen. Tim Kaine urges strong rules to prevent predatory payday lending practices

Posted on June 6, 2015 by The Debt Collector

As the Consumer Financial Protection Bureau (CFPB) considers new rules to address predatory practices in payday and similar types of lending, U.S. Senator Tim Kaine joined a group of more than 30 senators in expressing support for initial steps the agency has taken and urging the agency to issue strong rules to combat the “cascade of devastating financial consequences” that these high-priced loans often have on consumers.

“We support the CFPB’s initial steps towards releasing a proposed rule and urge you to issue the strongest possible rules to end the damaging effects of predatory lending,” the Senators wrote in a letter to CFPB Director Richard Cordray. “Small-dollar, short-term loans with astronomical interest rates that pull consumers into a cycle of debt are predatory. These loans have high default rates, including after the borrower has already paid hundreds or thousands of dollars because of triple-digit interest rates.”

Read more here:

http://augustafreepress.com/sen-tim-kaine-urges-strong-rules-to-prevent-predatory-payday-lending-practices/

 

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