WebRecon reports consumer litigation cases declined from August to September, but overall year-to-date filings under the FDCPA, FCRA and TCPA are on the rise.
More info here: http://dev.webrecon.com/twisty-turny-debt-collection-litigation-cfpb-complaint-statistics-sept-2015/?inf_contact_key=2371e3506272e1b5215526183c3d9969bacc619d5f45611d32d8081752744eda
Tuesday, November 3, 2015
East Coast Residents Face Lower Debt, Credit Burdens than Average U.S. Consumer
The Federal Reserve Bank of New York’s latest regional household debt and credit reports provide an overview of consumers’ delinquency rates, debt in third-party collections as well as credit card and student loan balances compared to U.S. figures.
More info here: http://newyorkfed.org/outreach-and-education/regional-household-credit.html
Consumers Keep Up Spending Growth
The Federal Reserve Bank of New York’s latest economic snapshot shows consumers have more disposable income and are opening up their wallets more, despite concerns about the global economic outlook.
More info here: http://newyorkfed.org/research/snapshot/index.html
Research Shows Recovery in Consumer Confidence
The study for BloombergBusiness shows households may be forging ahead in buying goods and services as the economy improves.
More info here: http://www.bloomberg.com/news/articles/2015-10-08/consumer-comfort-in-u-s-climbs-to-highest-level-since-april
Consumer Loan Delinquencies Decline in Second Quarter
Credit card delinquencies remain below historical averages as consumers continue to manage debt and control spending.
More info here: http://www.aba.com/Press/Pages/100815DelinquencyBulletin.aspx
Millennials are Deep in Debt and Struggle to Repay Their Loans
Researchers from George Washington University find debt is a significant part of the financial situation for the Millennial generation and they have concerns about resolving their student loans and short-term credit card bills.
More here: http://blogs.wsj.com/experts/2015/10/05/the-alarming-facts-about-millennials-and-debt/
Fraudulent Debt Collection Scam Reported in Minnesota
The calls appear to be coming from “Advance America,” “Cash Advance” or “Cash Advance Inc.”, but the company does not operate in Minnesota and is not responsible for the contact with consumers.
More info here: http://www.prnewswire.com/news-releases/consumer-alert-scammers-claiming-to-represent-advance-america-target-consumers-in-midwestern-states-300023178.html
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