Compliance

Data Shows Second Year of Declines in Consumer Debt Collection Complaints

An emerging trend shows that debt collectors are working hard to assist consumers and help the U.S. economy. For the second year in a row, complaints against debt collectors have dramatically decreased and debt collectors have earned a higher complaint resolution rate than the all-industry rate, according to the Council of Better Business Bureaus. The BBB’s new data indicates that debt collection complaints have dropped... Read More

Consumer Credit Default Rates Reach New Post-Recession Low

S&P and Experian report the comprehensive measure of changes in consumer credit defaults is at a new low since the economic recession, but bank card default rates continue to increase. Consumer credit default rates reached a new low since the economic recession, according to a news release from S&P Dow Jones Indices on the latest S&P/Experian Consumer Credit Default Indices. The comprehensive measure of changes... Read More

From Collector: Are You In The Clear?

Understanding how the FDCPA applies to first party creditors. For decades, the Fair Debt Collection Practices Act has been largely viewed as the domain of third-party debt collectors. Today, however, smart companies know otherwise. Both the Federal Trade Commission and the Consumer Financial Protection Bureau have made it clear—through guidance, enforcement actions and lawsuits—that in certain situations, first-party creditors fall under the FDCPA’s jurisdiction directly... Read More