New York Passes Law Addressing Coerced Debt 

New York has enacted new consumer protections related to coerced debt following Gov. Kathy Hochul’s signing of Senate Bill S1353B on Dec. 19, 2025. The law establishes restrictions on the enforcement of certain consumer debts and outlines new legal remedies for affected individuals.  Under the statute, creditors are prohibited from enforcing consumer debts that were incurred through fraud, duress, intimidation, threats, force, identity theft, or the exploitation of a debtor’s personal information. […]

BNPL Market Trends Continue To Evolve 

The Consumer Financial Protection Bureau (CFPB) recently released a report examining trends in the buy now, pay later (BNPL) market. The BNPL market—most commonly structured as a four-payment, no-interest loan used for retail purchases—continues to grow, though at a more moderate pace than in prior years. Drawing on data from six large BNPL providers, recent findings highlight how consumer usage and overall market activity evolved during calendar years 2022 and 2023.  […]

FCC Proposes Major Updates to Caller ID and Consent Rules 

The Federal Communications Commission (FCC) has opened public comment on a sweeping set of proposed rules that would significantly change how caller identification and consumer call consent work in the United States. The proposals focus on expanding consumer control over unwanted calls while improving transparency around who is calling and where calls originate.  The proposed rules, published in the Federal Register, aim to strengthen the accuracy and reliability of caller […]

The Personal Benefits of Being a Collector – The Story of the Truck Tailgate

I have said for years that every high school student should spend a semester working as a bill collector. The training alone—learning to ask questions, verify information, listen for inconsistencies, and help people solve real financial problems—would prepare any young adult for the world far better than most classroom electives.  At the October California Credit Union Collectors Council conference, I attended a training session that opened my eyes to how […]

U.S. Bankruptcy Filings Continue to Rise in 2025, but Remain Below Historic Highs 

Bankruptcy filings in the United States continued their upward climb in 2025, reflecting the growing financial pressure on both households and businesses. New data from the Administrative Office of the U.S. Courts shows that personal and business filings increased 10.6% in the twelve-month period ending September 30, 2025, compared with the previous year.  A Noticeable Increase Across the Board  In total, 557,376 bankruptcy cases were filed during the year ending […]

The Commission Illusion: Why Paying More Doesn’t Always Mean Collecting More

When it comes to third-party collections, many creditors assume that commission-based compensation is the ultimate motivator. After all, if agencies only earn when they collect, their interests must be perfectly aligned with yours—right?  Not always.   In fact, that assumption can lead to one of the most overlooked inefficiencies in vendor management. Paying a higher commission doesn’t necessarily mean you’ll see greater effort or better results. Sometimes, it produces the opposite […]

The High Cost of Small Choices: What $33 Pajamas Say About Today’s Borrowers

PYMNTS Intelligence recently reported that 66% of U.S. consumers are still living paycheck-to-paycheck—a slight dip from prior months, but with a more worrying shift behind the numbers:42% now say they live this way because they have no other choice, an 18% increase since August.  Consumers aren’t just stretched—they’re sliding further into a financial reality where even small purchases require financing, and that shift carries big implications for delinquency, payment behavior, […]

CFPB Faces Leadership Shifts, Funding Questions, and a Fast-Moving Rulemaking Agenda 

The Consumer Financial Protection Bureau (CFPB) is entering a period of unusual uncertainty as it prepares to shift its active litigation to the Department of Justice and furlough some enforcement attorneys. These moves come as the bureau adjusts its operations in response to new legal and funding challenges.  A New Legal Opinion Shifts the Funding Landscape  In mid-November, the U.S. Assistant Attorney General issued a legal opinion concluding that the […]

CFPB Ends Consent Order Against TransUnion as Leadership Transition Continues 

In early November 2025, the Consumer Financial Protection Bureau (CFPB) formally terminated its consent order against TransUnion after determining that the credit bureau had met the conditions required under the agreement. The original order, issued in October 2023, stemmed from findings that TransUnion failed to promptly place or lift credit security freezes while assuring consumers that the freezes were active, among other violations of the Consumer Financial Protection Act.  According to the CFPB’s termination notice dated […]

North Carolina Expands Medical Debt Relief and Urges Credit Reporting Reform

North Carolina continues to make significant progress in addressing medical debt. On November 5, Governor Josh Stein hosted a roundtable discussion in Greensboro to highlight the success of the North Carolina Medical Debt Relief Program and to encourage national credit reporting agencies to strengthen their consumer protection practices.  Since launching in July 2024, the state’s debt relief initiative has erased more than $6.5 billion in medical debt for over 2.5 […]