Credit and Collection News

July 23, 2024

Why the FTC Is Eyeing ‘Surveillance Pricing’ at Companies Like Mastercard, JPMorgan Chase, and McKinsey

The Federal Trade Commission is investigating if major companies are enabling a sinister-sounding practice known as surveillance pricing. The FTC has asked Mastercard, Revionics, Bloomreach, JPMorgan Chase, Task Software, PROS, Accenture, and McKinsey to provide information about products and services ...

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July 20, 2024

Basile International Legal Firm Revolutionizes International Debt Collection

In an era of increasing global trade, the challenge of international debt collection has become more pressing than ever. Basile International Legal Firm, a rising star in the legal industry, is addressing this challenge head-on with a groundbreaking approach that ...

July 23, 2024

Red Lobster moves closer to bankruptcy sale to lenders

red lobster NEW YORK, July 23 (Reuters) - Red Lobster is moving closer to a bankruptcy sale that would put lenders, including Fortress Investment Group, in charge of the company after no other bidders stepped up with an offer to ...

July 25, 2024

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to commence foreclosures. In a significant departure from ...

July 24, 2024

Experian Digital to help Kiwi banks clear up confusing transaction descriptions on bank statements

Experian, the global information services company, has announced the launch of two Experian Digital solutions in New Zealand, to help kiwi banks to innovate their customer banking experience by tackling the challenge of confusing transaction descriptions on bank statements. The ...

July 21, 2024

Consumer Financial Protection Bureau examines predatory trucking agreements

The Consumer Financial Protection Bureau was slated to deliver a 30-minute presentation regarding the severity of predatory lease-purchase agreements in the trucking industry. Instead, the Bureau’s Ryan Kelly spent close to two hours breaking down many of the ways the ...

July 23, 2024

Senate subcommittee investigation finds big banks are failing to reimburse users scammed on Zelle

BALTIMORE — The U.S. Senate Permanent Subcommittee on Investigations (PSI) issued a 62-page report on Zelle’s “insufficient consumer protection” when users lost money to scammers. Despite a legal mandate to reimburse fraud, the committee found consumers who reported scams were ...

July 24, 2024

One of California’s largest wine companies has filed for bankruptcy

B.R. Cohn Winery in Glen Ellen, one of 30 wine and spirits brands that Vintage Wine Estates owns. Michael Short/Special to The Chronicle Vintage Wine Estates, one of America’s largest wine conglomerates, has filed for bankruptcy. The Santa Rosa company, ...

July 22, 2024

Governor Signs Legislation Protecting People From Falling Into Medical Debt

Government On Jul 22, 2024 Gov. Phil Murphy today signed the Louisa Carman Medical Debt Relief Act which is expected to help New Jersey families avoid falling into medical debt and protect individuals from predatory medical debt collectors. The legislation, ...

July 23, 2024

GOP Lawmakers, Financial Leaders ‘Leery’ Of Rushing AI Rules On The Sector

GOP lawmakers, financial leaders ‘leery’ of rushing AI rules on the sector | FedScoop At a Tuesday House hearing, capital markets and banking professionals said they want regulatory clarity from agencies. House Financial Services Committee Chairman Patrick McHenry, R-N.C., ...