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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.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
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.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
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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