LOS ANGELES — California Attorney General Rob Bonta today announced the sentencing of jewelry store owner Nelson Holdo for swindling 32 victims out of over $1.7 million through a Rolex watch and luxury jewelry Ponzi scheme. Holdo was sentenced to five years in state prison after pleading guilty ...

The Federal Trade Commission reached a settlement with payment processing company Humboldt Merchant Services that will see Humboldt pay $12 million and be permanently banned from processing payments for merchants with a heightened risk of potential fraud, the agency said ...

A proposed agreement between Massachusetts and Avon debt collector Andrew Metcalf would cancel thousands of alleged consumer debts, unwind judgments and liens, and permanently remove Metcalf and his companies from the state’s collection market—subject to court approval. By Credit and ...

Record rehabilitation filings and a rapid expansion of debt-adjustment programs are increasing pressure on South Korea’s credit-information and collection sector, where firms say public anger at illegal lenders is increasingly being directed at compliant collectors. South Korea’s expanding debt-relief system ...

WASHINGTON — House Republicans have introduced sweeping legislation that would fundamentally reshape the Consumer Financial Protection Bureau’s funding, enforcement authority, supervision and rulemaking process—changes that could have broad implications for banks, lenders, fintechs, debt collectors and other consumer-finance companies. The ...

South Africa’s revenue service is stepping up efforts to recover unpaid taxes, with taxpayers facing tougher enforcement measures that can include money being taken directly from their bank accounts. The South African Revenue Service’s undisputed debt collection pool reached R532 ...

WASHINGTON — Federal Housing Finance Agency Director Bill Pulte has directed Fannie Mae and Freddie Mac to immediately allow all mortgage lenders to use VantageScore 4.0, expanding a limited rollout and giving the government-sponsored enterprises’ seller-servicers a broad alternative to ...

Dallas-Fort Worth foreclosure starts are rising faster than the national pace, but strong homeowner equity, restrained inventory and stabilizing prices suggest the region is undergoing an orderly housing-market adjustment—not a broad-based collapse. Dallas-Fort Worth has averaged slightly more than 800 ...

TransUnion is shaking up how it calculates credit scores, expanding its range from 0 to 710 to a maximum of 999.  The credit reference agency says its new system will look at a broader range of information, including how your ...