America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics at work in the auto lending, medical debt and payday loan sectors. “Today’s report furthers...
Cash is the lifeblood of a business, meaning that delayed payments delay growth. Payment defaults are even worse. Today’s turbulent macroclimate has only underscored the importance of keeping cash on hand for businesses — complicating the buyer and seller dynamic by adding more pressure around...
Members of the U.S. military are especially vulnerable to erroneous or unscrupulous actions by companies connected with credit ratings and debt collection, the federal Consumer Financial Protection Bureau concluded in an annual report issued Monday (June 13). The report focuses each year on the financial...
To help firms retrieve funds from past-due invoices, NexaCollect has rolled out a B2B arm that provides information about commercial debt collection, according to an announcement. The move comes as firms and commercial services are looking at large losses because of unpaid accounts receivable (AR)...
January 27, 2020
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices may scale back investigations (and fines) and some states seek to boost consumer protections. We break down why 2020 may herald big changes for the bureau.
September 30, 2019
We all know the drill. After receiving treatment at a hospital (whether an in-and-out affair, such as an MRI, or a multi-day stay in a room), the insurance notices and...
July 19, 2019
More than a quarter of consumers have one debt in collections, according to data from the Consumer Financial Protection Bureau. A large swath of that is tied to medical debt —...
February 14, 2019
Americans are on the hook for an ever-increasing percentage of their medical bills. As healthcare becomes a tough pill to swallow financially, 57 percent of consumers would like to set...
May 02, 2024
The Small Business Administration (SBA) loaned out $390 billion to keep companies afloat during COVID. Now, many of those small businesses say they are struggling to pay back fees after defaulting on those loans, The Wall Street Journal (WSJ) reported Thursday (May 2). According to that report, the SBA has handed off 860,000 delinquent loans from the COVID disaster program — […]
July 26, 2023
America’s consumer watchdog says it’s uncovered deception and abuse in several consumer financial products. The Consumer Financial Protection Bureau (CFPB) released a report Wednesday (July 26) that found illegal tactics...
June 13, 2022
Members of the U.S. military are especially vulnerable to erroneous or unscrupulous actions by companies connected with credit ratings and debt collection, the federal Consumer Financial Protection Bureau concluded in...
October 11, 2019
U.S. Rep. Ayanna Pressley of Massachusetts has introduced new legislation that would require the Consumer Financial Protection Bureau (CFPB) to regulate the debt collection industry. Nearly one in three Americans...
