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EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call (855) WEB-RECON or email admin@webrecon.net today!
Credit card debt is on the rise. Americans now owe a record $1.14 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at $6,329, up 4.8% year over year, according to a separate quarterly credit industry insights report from TransUnion. Credit card delinquency rates are also higher across the board, the New York Fed and TransUnion found.
The comments period regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit closed yesterday. To provide insight into the tone of the comments being filed, AccountsRecovery.net is sharing some of those comments here. To date, 1,008 comments have been filed and are available to be viewed.
A District Court judge in Illinois has dismissed the remaining claim in a Fair Debt Collection Practices Act case against a defendant, citing a lack of subject matter jurisdiction because the plaintiff lacked standing to sue. The plaintiff, who initially alleged multiple violations of the bankruptcy provisions of the FDCPA, saw her case gradually dismantled until only the FDCPA claim remained.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
In what is a recipe for problems, the average credit card balance for consumers continues to trend upward while the number of consumers making more than the minimum payment on their card balances every month is going in the opposite direction, according to data released last week by TransUnion. Driving the news: The latest TransUnion Credit Industry Insights Report (CIIR) for the second quarter of 2024 reveals that the average credit card balance per consumer has surged to $5,897, up from $5,325
Collector Facing FDCPA Class Action Over Alleged Itemization Table Math Discrepancy Summarizing Comments Submitted to CFPB’s Medical Debt Credit Reporting Proposal Judge Dismisses Remaining FDCPA Claim in BK Case Credit Card Balances Keep Rising, While More Consumers Making Just Minimum Payments WORTH NOTING: Ideas and suggestions to help calm back-to-school nerves … Consumers across the country are running out of disposable income … Assessing the health benefits for different kinds
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Collector Facing FDCPA Class Action Over Alleged Itemization Table Math Discrepancy Summarizing Comments Submitted to CFPB’s Medical Debt Credit Reporting Proposal Judge Dismisses Remaining FDCPA Claim in BK Case Credit Card Balances Keep Rising, While More Consumers Making Just Minimum Payments WORTH NOTING: Ideas and suggestions to help calm back-to-school nerves … Consumers across the country are running out of disposable income … Assessing the health benefits for different kinds
Collector Facing FDCPA Class Action Over Alleged Itemization Table Math Discrepancy Summarizing Comments Submitted to CFPB’s Medical Debt Credit Reporting Proposal Judge Dismisses Remaining FDCPA Claim in BK Case Credit Card Balances Keep Rising, While More Consumers Making Just Minimum Payments WORTH NOTING: Ideas and suggestions to help calm back-to-school nerves … Consumers across the […]
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
The comments period regarding the Consumer Financial Protection Bureau’s proposed rule that would prohibit creditors from using medical debts when determining whether a consumer is eligible for credit closed yesterday. To provide insight into the tone of the comments being filed, AccountsRecovery.net is sharing some of those comments here.
A District Court judge in Illinois has dismissed the remaining claim in a Fair Debt Collection Practices Act case against a defendant, citing a lack of subject matter jurisdiction because the plaintiff lacked standing to sue.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
In what is a recipe for problems, the average credit card balance for consumers continues to trend upward while the number of consumers making more than the minimum payment on their card balances every month is going in the opposite direction, according to data released last week by TransUnion.
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