US Credit Card Debt Surged Most in Two Decades
Martin Crutsinger for ABC News
Americans gave their credit cards a real workout this past holiday season. The Federal Reserve said Friday that borrowing on credit cards rose by the largest amount in more than two decades in December. Total U.S. consumer borrowing rose $22.1 billion in December, the central bank said. That was the biggest gain...
READ MORECFPB Hands Out $1 Penalties in Proposed Settlement
Former payday lender Think Finance would split the $7 penalty across its seven entities involved in the lawsuit initially filed…
Banks Are Handing Out Beefed-Up Credit Lines That Customers Didn’t Ask For
It might sound like a risky strategy at a time when millions of Americans are drowning in debt: keep raising…
7th Circuit Bolsters TCPA Wireless Carrier Exemption
In 2016, a plaintiff filed suit against Subway over a text message for a free sandwich, sent to him by…
One in Three Consumers Fear They Will Max Out a Credit Card
Despite the dangers of high-interest debt, more consumers are testing the limits of plastic. To that point, more than 1 in…
Does Your Commercial Collection Strategy Need a Makeover?
It’s 2020, a great time to reflect on the last ten years and a great time to look ahead. When…
Eleventh Circuit Limits TCPA Scope
On January 27, 2020, the 11th Circuit Court of Appeals, in a 2-1 decision, rejected yet another attempt by plaintiffs…
CFPB Sues Citizens Bank Over Unresolved Credit Card Errors
The Consumer Financial Protection Bureau (CFPB) on Thursday filed a lawsuit against Citizens Bank, alleging it routinely failed to investigate…
CFPB Announces Additions to Executive Team
The Consumer Financial Protection Bureau (Bureau) today announced additions to its executive team. The leadership positions are: Susan M. Bernard will…
CFPB Announces Policy Regarding Prohibition on Abusive Acts or Practices
The Consumer Financial Protection Bureau (Bureau) today issued a policy statement providing a common-sense framework on how it intends to…
