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• Settlements top $1 million in debt-collection lawsuit

  Created: Monday, 30 November 2009 15:33

  CLAIR JOHNSON Of The Gazette Staff | Posted: Friday, November 27, 2009 7:00 pm An estimated 31,000 consumers nationwide are poised to receive more than $1 million from proposed settlements in a Montana lawsuit that accused companies of violating laws in ...

• President Obama Establishes Interagency Financial Fraud Enforcement Task Force

  Created: Wednesday, 25 November 2009 14:35

  WASHINGTON—Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has ...

• These Rates Would Shock a Loan Shark

  Created: Wednesday, 25 November 2009 12:07

  By JIM DWYER Published: November 24, 2009 Just in time for Thanksgiving last year, a credit card offer arrived in the mail. The (introductory) rate was 2 percent. Malcolm S. jumped. A student at Medgar Evers College in Brooklyn, Malcolm was looking af...

• Victims of Alleged Law Firm Scam to Get $13.6 Million, but More Payouts May Follow

  Created: Wednesday, 25 November 2009 10:35

  From www.law.com Julie Kay, Daily Business Review, November 24, 2009 Victims of an alleged debt settlement scam run by a Coral Springs, Fla., law firm will get $13.6 million, or 25 percent of their losses. Broward Cir., Florida Judge Ronald J. Rothsch...

• Debt Settlement Company Complaints

  Created: Thursday, 19 November 2009 09:41

  by Bill Riales MOBILE, Alabama - Many companies have sprung up in the past year and a half offering to consolidate or settle your outstanding debt. That kind of help may be too good to be true. Dianne George said she had several credit accounts, all curr...

• Changes made to credit cards add up

  Created: Monday, 16 November 2009 15:56

  By Carrie Teegardin The Atlanta Journal-Constitution When the next credit card statement arrives in your mailbox, there’s a good chance you will find a surprise. And it’s probably not a pleasant one. With new federal rules set to hit credit card co...

• PRACTICE MANAGEMENT: Financial Advisers Like Draft Senate Bill

  Created: Tuesday, 10 November 2009 16:07

  By Kristen McNamara    Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--A draft financial-service reform proposal unveiled Tuesday by Sen. Christopher Dodd (D-Conn.) won applause from financial advisers and state regulators. "The draft legislation's trea...

• Debt settlement industry in a fight for its life

  Created: Tuesday, 10 November 2009 13:51

  November 10, 9:57 AMPhoenix Your Money ExaminerGarland McDonald The debt settlement industry is engaged in an on-going battle with financial institutions who are pressing the FTC for an amendment to 16CFR Part 310, commonly known as the "Telemarketing ...

• Consumer debt drops for record 8th straight month

  Created: Tuesday, 10 November 2009 10:56

  By Rex Nutting WASHINGTON (MarketWatch) - Outstanding consumer debt fell at a 7.2% annual rate in September, the eighth consecutive decline, the Federal Reserve reported Friday. Consumer credit fell by $14.8 billion to $2.46 trillion in September, dow...

• Dodd Unveils Financial-Overhaul Measure

  Created: Tuesday, 10 November 2009 10:42

  By MICHAEL R. CRITTENDEN WASHINGTON -- Sen. Chris Dodd introduced a wide-ranging financial-regulatory-overhaul measure Tuesday, seeking more ambitious changes in some areas than the regime envisioned by the White House or his counterparts in the House of...

• Few Get Major Debt Relief From Settlement Firms

  Created: Monday, 09 November 2009 12:06

  By Andrea Coombes For consumers drowning in thousands of dollars of debt, the lure of paying "pennies on the dollar" to their creditors in a process known as debt settlement is tough to resist. ...

• AG seeks greater authority over debt collectors

  Created: Tuesday, 03 November 2009 10:40

  Tampa Bay Business Journal Florida Attorney General Bill McCollum has requested the Legislature to provide expanded authority to sue abusive debt collectors. ...

• State to crack down on rogue debt collectors

  Created: Monday, 02 November 2009 23:50

  By Jim Stratton, Sentinel Staff Writer November 2, 2009 State officials today are expected to announce plans for a crackdown on abusive debt collectors, following reports that collection harassment has surged in the past 18 months and that little has be...

• Consumers say credit wrongfully ruined by reckless debt collectors

  Created: Monday, 02 November 2009 23:39

  By Mark Greenblatt / 11 News Defenders HOUSTON -- World-traveling business executive Stefano Rosellini never saw himself as the type of person to get calls or letters from debt collectors.  After all, he says, he takes great pride in paying all his per...

• Debt Collection Report Shows Consumer Agency Needed -Sen Levin

  Created: Sunday, 01 November 2009 20:35

  WASHINGTON (Dow Jones)--A congressional report detailing abuses by debt collectors demonstrates the need for a new consumer financial protection agency, said Sen. Carl Levin, D-Mich., Wednesday. ...

• The Consumer Financial Protection Agency could protect consumers from bad debt

  Created: Sunday, 01 November 2009 20:27

  By Ellen Harnick, Senior Policy Counsel, Center for Responsible Lending - 10/26/09 11:14 AM ET Federal regulators looked the other way for the last 10 years as banks and other lenders aggressively marketed financial products carrying hidden costs and ...

• Credit cards still use soon-to-be banned policies

  Created: Sunday, 01 November 2009 20:24

  By EILEEN AJ CONNELLY (AP) – 4 days ago NEW YORK — Not only have credit card companies continued to use practices that will be outlawed under a strict law due to take effect in February, in many cases their policies have gotten harsher since the law ...

• Calling the debt collectors on abuse

  Created: Sunday, 01 November 2009 20:15

    By Michelle Singletary Thursday, October 29, 2009   People dread getting calls from bill collectors. And it's not always because they can't pay. It can be a degrading experience, especially with third-party collectors who are overly aggressive,...

• Credit card rates rise to beat new law

  Created: Sunday, 01 November 2009 20:08

  By SHANNON BUGGSHOUSTON CHRONICLE Nov. 1, 2009, 5:40PM If ever there was a holiday season not to run up your credit cards, this is the one. I know I say that every year, but this time more than good financial sense prompts this evergreen bit of advice....