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Supreme Court to Decide Commencement of APA Statute of Limitations Period in Debit Card Fee Challenge

Troutman Sanders

Board of Governors of the Federal Reserve System (Board), a case where Corner Post challenges a 2011 Board rule that governs certain fees for debit-card transactions. In 2011, the Board set the interchange-fee cap at 21 cents per transaction. Supreme Court has granted the petition for certiorari in Corner Post, Inc.

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US National Debt Hits Record $34 Trillion as Congress Gears up for Funding Fight

Collection Industry News

WASHINGTON — The federal government’s gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America’s balance sheet in the coming years. economy right now, as investors are willing to lend the federal government money. This lower figure — $26.9

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National debt reaches a new record of $34 trillion—or about $100,000 for every person in the U.S.

Collection Industry News

finances, which have become a source of tension in a politically divided Washington that could possibly see parts of the government shutdown without an annual budget in place. The government borrowed heavily under then President Donald Trump and current President Joe Biden to stabilize the economy and support a recovery.

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Mortgage rates rise as debt ceiling standoff drags on

Collection Industry News

Mortgage rates topped 5% for the first time since 2011 a little more than a year ago and have remained over 5% for all but one week during the past year. economy is showing continued resilience which, combined with debt ceiling concerns, led to higher mortgage rates this week,” said Sam Khater, Freddie Mac’s chief economist.

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Fact Check: Is Congress Exempt From Paying Off Student Loans?

Collection Industry News

The Public Service Forgiveness Program eliminates the debts of government and non-profit organizations’ workers, who have accrued at least 10 years of qualifying payments. In 2011, the U.S. Department of Education announced its expansion of student debt relief to thousands of government agency employees. million people.

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How New York Budget Cuts Will Affect Debt Collection

FFGN COLLECT NY

Without aid from the federal government, New York state will see budget cuts of 10 billion in 2021 followed by budget cuts of 30 billion in 2022. But how is that possible given the fact that the courts are still recovering from the voluminous caseload from the recession of 2008 and 2011 budget cut of 170 million dollars?

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State of the Collections Industry in 2021

The Kaplan Group

The number of collection firms has been in decline since 2011, from 9,400 to 7,401 in 2018. There was a steep decrease in 2020, with only 6,699 remaining, a 10% decline. Government mandated forbearance programs resulted in sharp declines in delinquencies for student loans and mortgages. That’s a 2.5% decline per year.