Credit and Collection News

July 2, 2025

These Cities Have The Highest Credit Card Delinquencies In The U.S

article FILE-A man shows some of his credit cards as he pays for items at a store. (Photo by Joe Raedle/Getty Images) Late credit card payments can cause a substantial financial ripple effect from negatively impacting your credit score and ...

July 5, 2025

Seattle, Spokane among worst in U.S. for rising credit card delinquencies

COMP▲ ‎+1.02%‎ ©Dylan Gillis | Unsplash© The Center Square (The Center Square) – As fears of recession grow, a new report found that Seattle and Spokane are among the top five cities with increasing numbers of people not paying their ...

July 7, 2025

Student Loan Forgiveness Payment Counts Halted By Department Of Education, Says Servicer

A major federal student loan servicer has started notifying borrowers that the Department of Education has temporarily halted the ability for borrowers to track their student loan forgiveness progress. The announcement is another setback for borrowers as the federal student ...

July 6, 2025

NYC Comptroller Requested Stronger Protections For New Yorkers Amidst Attenuated CFPB Authority

By Troutman Pepper Locke State Attorneys General Team, Stefanie Jackman, Chris Willis & Kyara Rivera Rivera on July 3, 2025 POSTED IN CONSUMER FINANCIAL PROTECTION BUREAU (CFPB), CONSUMER FINANCIAL SERVICES, STATE ATTORNEYS GENERAL New York City Comptroller Brad Lander released ...

July 2, 2025

Scott Bessent says Fed could cut rates by September or ‘sooner’

Treasury Secretary Scott Bessent said Tuesday night that he thinks the Federal Reserve could cut interest rates by September or "sooner" because of mild inflation thus far from President Trump’s tariffs. "I think that the criteria is that tariffs were ...

The Fair Credit Reporting Act (FCRA): Understanding Your Rights

July 6, 2025

Fifth Circuit Affirms FCRA Limits: Credit Reporting Agencies Are Not Required To Resolve Fraud Claims

In a case of first impression, the Fifth Circuit in Reyes v. Equifax Information Systems, L.L.C., joined the First, Seventh, Ninth, and Tenth Circuits in affirming the District Court for the Eastern District of Texas’s decision that a consumer may ...

July 1, 2025

Fintech Personal Loan Defaults Hit 6-Quarter High, Driven by Young Borrowers and Small Towns

PERSONAL FINANCE India’s fast-growing fin-tech personal loan segment is showing signs of rising stress, with defaults touching the highest level in a year and a half. According to the latest report from the Fin-tech Association for Consumer Empowerment (FACE), the ...

July 2, 2025

DFPI Secures Over $68,500 In Consumer Refunds From Carbon Credit Dealer

Texas-based Dealer Charged 40% Markup to Californians Who Purchased Carbon Credits SACRAMENTO – The Department of Financial Protection & Innovation (DFPI) has reached an agreement with Texas-based Restitution Brands LLC stemming from the sale of carbon credits to California consumers ...

July 7, 2025

Capital One shutters Discover home equity business

Dive Brief: Capital One is winding down Discover’s home equity lending business, a spokesperson for the McLean, Virginia-based bank said Monday. “We conducted an extensive strategic business review of Discover’s home equity and refinance loan business to better understand its ...

New Car Buyers Taking On $1,000+ Monthly Payments At Alarming Rates

July 1, 2025

1 in 5 new car buyers take on $1,000 monthly payments

Car buyers financed an average of $42,388 for new vehicles last quarter Consumers also opted for longer loan terms and put less money down The average new-vehicle APR was 7.2% (NewsNation) — Once considered rare, $1,000 car payments are fast ...