"The Power of Expertise: Oversight Perfected"
"The Power of Expertise: Oversight Perfected"
The U.S. Court of Appeals for the D.C. Circuit has agreed to rehear a case brought by the National Treasury Employees Union (NTEU) challenging a plan by Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought to carry out large-scale layoffs at the agency. As part of its decision, the court issued a stay on the proposed layoffs while it reviews the case. The action vacates an earlier ruling that […]
The U.S. District Court for the District of Massachusetts has finalized a stipulated judgment against Commonwealth Equity Group, LLC — operating as Key Credit Repair — and its owner, Nikitas Tsoukales. The Dec. 18, 2025, order effectively shuts down the company following a five-year legal battle centered on widespread violations of the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act. The case was originally filed in May 2020 by the Consumer Financial Protection […]
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. […]
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. […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]