DEBT COLLECTION TOPS LIST OF COMPLAINTS WITH FTC
- After 15 years as the second banana, debt collection finally broke through and became the most complained about topic with the Federal Trade Commission. But really, the spike in collection complaints is likely due to an app called PrivacyStar, which makes it far easier for a consumer to file a complaint with the FTC.
BK FILINGS EXPECTED TO DECLINE AGAIN IN 2016
- The number of personal bankruptcy filings is expected to continue to fall in 2016, according to data analyzed and released by Fitch Ratings. If the prediction holds true, it would mark the sixth straight year in which the number has declined. Fitch is expecting the number of filings to decline between 6% and 8% from last year. A stable economy and improving credit performance were cited as what will drive the decrease.
CFPB RELEASES MONTHLY COMPLAINT SNAPSHOT
- The Consumer Financial Protection Bureau released its latest monthly complaint snapshot; this time looking into prepaid cards. While not a huge area of concern — there have only been about 4,300 complaints filed with the bureau — it is a timely area to discuss as the CFPB works on a proposed rule to regulate the prepaid industry. Debt collection continued to be a popular complaint topic.
WORTH NOTING: Economists are becoming increasingly divided over whether the economy is heading into a recession … Car sales had a good month in February … Which is better: exercising before or after work … One photo that forced Subway to make changes to its sandwiches … Full results from the Super Tuesday primaries … Sports Authority files for bankruptcy protection … Meet the billionaires who have donated to losing presidential campaigns … The shine is definitely off Chris Christie … Likely running mates for Donald Trump’s presidential run … The world’s 20 richest people lost $70 billion last year … 10 surprising things you can buy at Costco, Sam’s Club, or BJ’s.
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California deputies charged in inmate “Fight Club”
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