A federal district court judge has entered eight orders against a web of Orlando-based individuals and companies that bombarded consumers with illegal robocalls for worthless credit card interest rate reduction programs. According to a press release, the orders were at the request of the Federal Trade...
Student loan debt is still hurting a slew of Americans, with the Federal Reserve Bank of New York saying Wednesday (May 31) that defaults are still hovering at a high rate and that a small percentage of student debt holders can’t purchase a home as...
Big banks are pulling back from the $1.2 trillion U.S. car loan market due to fears that consumers have taken on more debt than they can handle. According to The Financial Times, new data released last week by the Federal Deposit Insurance Corporation showed the...
Over the last few years, the federal government has spent $1 billion a year to pay debt collectors to help struggling borrowers out of their student loan debt and find money to make regular monthly payments. Based on new government data, however, the efforts may have...
With 44 million Americans currently in student loan debt, equaling just over $1.4 trillion, paying all of that back can seem like a daunting and never-ending feat to accomplish. The U.S. Department of Education says nearly eight million borrowers haven’t made payments in 12 months,...
The Consumer Financial Protection Bureau (CFPB) released a monthly complaint snapshot revealing that both private and federal student loan borrowers nationwide report persistent servicing breakdowns that may hinder the repayment process. According to a press release, as of April 1, 2017, CFPB has handled approximately 1,163,200 consumer...
Transparency cures all ills — especially in the online lending space where investors need certainty the pools of debt they’re buying are as represented. Global Debt Registry President Charlie Moore tells Karen Webster why it’s no longer good enough for investors to just buy a...
With over $1.3 trillion owed in just the United States alone, student debt is likely one of the largest pieces of financial stress weighing on the country. With U.S. authorities reporting one in four of the 44 million student debtors defaulting or struggling to keep...
In February 2013, Max Levchin launched Affirm — a point-of-sale (POS) lender that would provide creditworthy millennials, who lacked credit cards and credit scores, the ability to buy and finance items from online sellers at checkout. Today, Affirm is announcing its one millionth POS loan and...
