# Debt collection
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Report Highlights Unfair, Deceptive Practices in Consumer Lending
Auto lenders, payday loans, and medical debt carry significant consumer risk. The Consumer Financial Protection Bureau (CFPB) released a report highlighting risks consumers face in the financial marketplace. That report called out several areas of significant risk, including auto loans, payday loans, and medical debt.
#debt #debtfreecommunity #debtfree #debtrelief #debtfreegoals #debtrecovery #debtmanagement #debtfreeliving #creditcarddebt #debtcollector #debtcollection
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Phoenix Financial Services Fined for Illegal Medical Debt Collection
Debt collector must pay $1.6 million fine, refund affected consumers. The Consumer Financial Protection Bureau (CFPB) has initiated an enforcement action against Phoenix Financial Services for illegal medical debt collection.
If You Had a Debt with Portfolio Recovery Associates, You May Be Eligible to Get a Refund
Have you been bothered by debt collectors? It's possible that you have been harassed by one of the largest ones and you can now get a payment from the CFPB. Last month, the Consumer Financial Protection Bureau (CFPB) went after a serial offender in the debt recovery space - Portfolio Recovery Associates for the second time. This might mean debt holders could get a substantial payment.
Debt Collector Fined $24 Million for Illegal Practices
Portfolio Recovery Associates ordered to reimburse consumers, pay a fine for a range of illegal tactics. The Consumer Financial Protection Bureau (CFPB) announced that Portfolio Recover Associates has been ordered to pay $24 million as a result of engaging in illegal debt collection practices.
Debt Collector for Discover and Citibank Ordered to Stop "Junk Lawsuits"
Consumer bureau takes action against debt collection law firm, orders them to stop abuse, pay a fine. A top debt collection law firm for consumer finance providers such as Discover and Citibank is facing an enforcement action from the Consumer Financial Protection Bureau (CFPB).
Consumer Group Applauds Legislation Designed to Protect Paychecks from Debt Collectors
Protecting Wages Act would prevent wage garnishment that harms consumers. The National Consumer Law Center (NCLC) is applauding efforts in Congress to protect the wages of consumers who are being pursued by debt collectors. The advocacy group is specifically highlighting the "Protecting Wages Act" which sets limits on how much of a consumer's wages may be used to satisfy a debt in the case of wage garnishment.
Families May Soon See Relief from Nursing Home Debt Collection
Consumer Bureau takes action to protect families of nursing home residents from illegal collection activity. The Consumer Financial Protection Bureau (CFPB) has joined forces with the Center for Medicare and Medicaid Services (CMS) to protect families of nursing home residents from illegal debt collection practices.
Consumer Bureau Takes Aim at Debt Collection "Junk Fees"
Financial regulator outlines illegal fees, takes action to prevent unlawful debt collection. The Consumer Financial Protection Bureau (CFPB) recently issued an advisory opinion noting that the so-called "convenience fees" often charged by debt collectors to facilitate debt repayment are prohibited by federal law.
New York Debt Collection Ring Shut Down for Illegal Practices
Consumer Bureau joins with New York Attorney General to fine, shutter network of debt collectors. The Consumer Financial Protection Bureau (CFPB) and the New York Attorney General's Office announced this week that by joint effort, the two have shut down an extensive debt collection ring based in New York.
Consumer Bureau Report Highlights Harms of Medical Billing Errors
Report shows inaccurate bills, coercive debt collections. A report released by the Consumer Financial Protection Bureau (CFPB) shows that consumers with medical debt often suffer from inaccurate billing and aggressive collection tactics.
FTC Action Results in $4.86 Million in Refunds to Victims of Abusive Debt Collectors
Annual report reveals scope of abuse in debt collection industry. The Federal Trade Commission (FTC) issued its annual report on enforcement of the Fair Debt Collections Practices Act (FDCPA) today and revealed that its enforcement actions resulted in millions of dollars of refunds to consumers who were victims of abusive debt collectors.
Consumer Advocates Applaud Enforcement Action Against Student Loan Servicer
National Consumer Law Center says fine is a win for student loan borrowers. Advocates at the National Consumer Law Center (NCLC) applauded enforcement action taken by the Consumer Financial Protection Bureau (CFPB) against student loan servicer Edfinancial.
Tennessee-based Student Loan Servicer Edfinancial Fined by Consumer Bureau
EdFinancial misled borrowers to pad profits, CFPB says. Knoxville, Tennessee-based student loan servicing company Edfinancial is facing sanctions and a $1 million fine for misleading student loan borrowers and failing to provide them with accurate information about loan repayment options. According to the Consumer Financial Protection Bureau (CFPB) the deceptive acts padded Edfinancial's profit margins while student loan borrowers repaid more than they should have.