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 […]

Is It Time for an Audit Tune-Up? Why Your Vendor Oversight Program Needs a Checkup 

A strong audit program is like a finely tuned engine. It may be running smoothly today, but without a regular checkup, hidden issues can go unnoticed — and small inefficiencies can grow into bigger risks. That’s why an annual review of your audit program isn’t just a good idea; it’s essential. It ensures compliance, mitigates risk, and keeps your third-party collection vendors performing as expected.  Even the best programs benefit […]

When Trust Turns Costly: The Lesson from Muddy River Credit Union 

It’s the kind of story that shakes a credit union to its core — not because it’s about a stranger breaking in, but because it’s about someone who had the keys all along. A long-time Kansas credit union manager was recently sentenced to more than five years in prison for embezzling over $750,000 from her employer, The theft didn’t just drain the institution’s accounts; it threatened the very safety and soundness of the credit union.  For three decades, […]

The Rising Cost of Auto Finance Fraud

Auto finance fraud is taking a growing toll on lenders — costing the industry billions each year. While it occurs less often than fraud on credit cards or personal loans, each case carries a far greater financial impact, often resulting in large charge-offs that can significantly damage portfolio performance.  Recent research analyzing nearly 4.9 million loan originations across auto, credit card, and unsecured personal loans found that losses tied to fraudulent auto loans were especially […]

Regulatory Shift: How the Latest CFPB Changes Impact Nonbank Entities

The Consumer Financial Protection Bureau (CFPB) has made significant moves to reduce the regulatory burden on nonbank entities, including debt collectors, by rescinding two key rules. These changes reflect an ongoing effort to streamline regulations and lessen the compliance costs for companies in the financial services sector.  What’s Changing?  The CFPB recently issued a final rule that rescinds a 2024 regulation requiring certain nonbank entities to register with the bureau […]

What Debt Collectors Can Learn from the Detroit Lions 

The Detroit Lions’ recent win over the Tampa Bay Buccaneers was more than just a game—it was a masterclass in teamwork, leadership, and adaptability.  Let’s set the stage:  Defensive tackle Alim McNeill played his first game since tearing his ACL in Week 15 against the Buffalo Bills. Cornerback Arthur Maulet was signed from the practice squad to the 53-man roster. Tre Flowers and Loren Strickland were temporarily elevated from the […]

Maryland Introduces New Medical Debt Collection Rules 

he Maryland Office of Financial Regulation has released new guidance outlining three medical debt collection laws that took effect this month. Together, these laws reshape how medical debt is collected, reported, and enforced across the state—introducing new consumer protections and compliance requirements for debt collectors, healthcare providers, and credit reporting agencies.  According to the state’s guidance, “collection agencies and consumer reporting agencies should take note of the relevant changes in […]

New York’s Updated Cybersecurity Requirements Take Effect Nov. 1

The New York Department of Financial Services (NYDFS) will implement new cybersecurity requirements on Nov. 1, introducing enhanced rules around multifactor authentication (MFA) and asset management for covered entities under the state’s financial services law. Who Must Comply  Under NYDFS regulations, a “covered entity” refers to any organization operating under or required to operate under a license, registration, charter, certificate, permit, accreditation, or similar authorization issued pursuant to New York’s […]

What’s Really Spooky This Season: Not Knowing If You’re Doing Enough to Collect—or to Oversee 

Halloween is coming—but what’s really spooky isn’t ghosts or goblins. It’s sending out millions in charged-off accounts and not knowing if you’re doing enough to bring that money back. The real fright? You might be leaving recoveries hiding in the dark.  You just handed $1 million in charged-off accounts to your collection vendors. The question isn’t just how much they’ll recover—it’s whether you are doing enough to make sure every […]