Consumer Credit Credit Card Debt Education Loans 
Fico Collections
AUGUST 16, 2021
Mix in the fact that many consumers – enabled, in part, by historic levels of savings at least partly driven by government stimulus such as enhanced unemployment benefits – have shifted their focus to paying down their credit card debt, and the result is a greater than 10% decrease in the average credit card balance and utilization of the U.S.
Troutman Sanders
JULY 11, 2023
Department of the Treasury (Treasury) launched an inquiry into specialty financial products, such as medical credit cards and installment loans, that consumers can use to pay for medical care. The CFPB further alleged that the defendants made guarantees about lowering consumers’ credit card interest rates.
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Troutman Sanders
MAY 9, 2023
On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.
Fico Collections
AUGUST 29, 2022
As shown in figure 3, recent missed payments are up most notably on bankcards , followed by auto loans. During the first year of the pandemic, the combination of government stimulus programs such as the CARES Act and payment accommodation programs offered by lenders helped millions of consumers stave off missed payments. See all Posts.
Troutman Sanders
DECEMBER 7, 2021
On December 1, the CFPB, the Federal Reserve Board, and the Office of the Comptroller of the Currency announced that the 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500. For more information, click here. For more information, click here.
Better Credit Blog
JANUARY 20, 2022
This is why many people engage the services of a debt relief agency. TransUnion calculates that paying off $5,000 of credit card debt at the minimum rate costs $10,000 in interest. It was for a PMSI loan for an outdoor wood burning furnace. I came to learn that FDR mainly only works with credit cards.
Titan Consulting
MAY 3, 2020
All three for-profit credit reporting agencies, Experian, Equifax and Transunion compile and report consumer credit and debt payment activity and sell this consumer information to lenders seeking to grant credit. Here’s why: Who Decides Your Credit Score? Amounts owed in relation to credit limits.
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