Credit and Collection News

May 8, 2024

‘Federal Law Is Not A Suggestion’ CFPB Warns As Fintech Fined $4.55M

The Consumer Financial Protection Bureau has warned challenger financial firms that they cannot avoid the rules requiring the fair treatment of customers. The agency made the statement following its decision to impose financial penalties on San Francisco headquartered fintech Chime ...

May 12, 2024

State AG Coalition Opposes Current Federal Privacy Legislation

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May 9, 2024

CFPB’s Credit Card Late Fee Rule May Be Windfall for BNPL

The laws of physics dictate that for every action, there is a reaction. As Tuesday (May 14) looms, with a new rule from the Consumer Financial Protection Bureau (CFPB) slated to take effect that would drastically lower credit card late fees, several reactions might ripple across ...

May 7, 2024

Member Sues California Credit Union Over Return Deposit Item Fee

Credit/Shutterstock On Sept. 30, 2022, Brandon Gray, a member of the $3.5 billion Credit Union of Southern California in Anaheim, Calif., deposited a check from a third-party into his account. A few days later he was shocked to learn that ...

May 8, 2024

Americans Are Paying Off Credit Card Debt The Fastest In These States

oatawa / iStock/Getty ImagesIn spite of record-high credit card debt of more than $1 trillion, many Americans are taking steps to reduce their debt. A recent GOBankingRates study showed that consumer debt decreased in 32 states plus the District of Columbia ...

May 11, 2024

American hospitals are now demanding upfront payment for surgery

Healthcare Big corporate American hospitals now want you to pay up front for surgery Katie Balevic 2024-05-10T10:11:01Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to ...

May 10, 2024

Leeds Credit Union wins two Yorkshire Financial Awards

Leeds Credit Union (LCU), a pioneer of community banking and financial inclusion, has won two prestigious awards at the Yorkshire Financial Awards 2024, it has announced. The credit union took home the coveted Outstanding Achievement Award and was also crowned ...

May 8, 2024

The Hidden Cost of Convenience: Credit Card Processing Fees and Their Impact on Consumers

e all know how convenient it is to swipe our credit cards for everyday purchases. In fact, as of 2022, 82% of U.S. adults had a credit card, making it the most common consumer lending product. In addition, according to ...

May 7, 2024

Monterra Credit Union elevates the member experience with the Empower LOS from Dark Matter Technologies

- 'Lights-out' automation will enable Monterra to better serve members' needs by maintaining loan momentum around the clock - × This page requires Javascript. Javascript is required for you to be able to read premium content. Please enable it in ...

May 6, 2024

Renters’ hopes of being able to buy a home have fallen to a record low, New York Fed survey shows

The share of renters who believe that they one day will be able to afford a home, fell to a record low 13.4%, according to a New York Federal Reserve survey released Monday. There's not a lot of good news ...