General News

Congress has approved a bill that will change the type of unpaid income tax debts that can be placed with private collection agencies. Both the House of Representatives and the Senate last week passed votes on the Taxpayer First Act, which includes a series of reforms at the Internal Revenue …

Sen. Elizabeth Warren [D-Mass.] and Rep. James Clyburn [D-S.C.], are planning to introduce legislation in both the House of Representatives and Senate to eliminate $50,000 of student loan debt for all Americans, which would cancel the student loan debt for 75% of borrowers, according to a release from both lawmakers. …

Nobody loves a good analogy more than I do. They are wonderful tools to help you make a point by using real-world examples that others can relate to. But I’m wondering if an analogy used by Ajit Pai, the chairman of the Federal Communications Commission, may have missed the mark. …

One-tenth of the way though her five-year term, Kathy Kraninger, the Director of the Consumer Financial Protection Bureau is taking her first victory lap, in the form of a press release touting what the agency has accomplished during her first six months on the job. The list of accomplishments and …

June 11, 2019, ATLANTA, GA –FLOCK Specialty Finance announces the appointment of Reid Simpson, former CFO of Asset Acceptance, to its Board of Directors. Simpson will work with the leadership team to support the Company’s continued growth and advise FLOCK on its capital raising strategy and investment decisions.  “Reid is …

A profile in a local business magazine is a perfect example of the type of positive press that companies in the credit and collection industry are capable of obtaining, if they are proactive in looking for it. Using a great example of what happened when the agency was accidentally provided …

In her first televised interview since becoming Director of the Consumer Financial Protection Bureau, Kathy Kraninger mentioned the agency’s proposed debt collection rule and talked about its upcoming symposium on attempting to define what constitutes an abusive practice under Dodd-Frank. Participating on “Bloomberg Markets: What’d You Miss?” yesterday, Kraninger took …

A fund set up by a Idaho billionaire to help residents defend themselves against “unreasonable attorney fees” in collection-related lawsuits has so far taken on 102 cases, which represent the most “egregious” instances of individuals being victimized, Frank VanderSloot said in an interview that was published yesterday. All but five …

A law professor is raising some concerns and issues with the limited content message that is part of the proposed debt collection rule from the Consumer Financial Protection Bureau, saying that it will be easy to guess that the message is coming from a debt collector if the collector follows …

The House Financial Services Committee has postponed its scheduled hearing on debt collection, without providing a reason or a new date. Originally scheduled for Tuesday, June 25 at 10 AM, the hearing “Examining Legislation to Protect Consumers and Small Business Owners from Abusive Debt Collection Practices” has been postponed until …