Consumer Delinquencies Stay Near Record Lows

Bank card and closed-end loan delinquencies increased in last year’s fourth quarter but were still near record lows, as stated by the American Bankers Association’s Consumer Credit Delinquency Bulletin.

Consumers are Too Confident about Finances: Survey

Ninety-two percent of Americans are “very or somewhat confident” in their most recent large fiscal decision – such as deciding a charge card, purchasing an automobile or refinancing a mortgage, based on a survey by the National Foundation for Credit Counseling and NerdWallet.

New Credit Rating Grown for the Underbanked

Fair Isaac is developing a credit rating aimed at the huge numbers of individuals who are not able to acquire auto loans, charge cards and mortgages because lenders consider them to be overly speculative.

Payment Processors Settle Charges

CardFlex Inc. and its principals have settled charges that they illegally processed more than $26 million in consumer costs on behalf of a firm called I Works.

Court Shuts Down Credit Repair Scam That Impersonates FTC

A federal court has blocked the operations of an organization that calls itself “FTC Credit Solutions.” The organization used false association with the FTC to promote counterfeit credit fix services to Spanish-speaking consumers.

Group Practices Targeted in New CFPB Credit Card Study

The Consumer Financial Protection Bureau announced it’s adding two new issues – skill and debt collection practices -to-refund standards – to a planned second charge card marketplace study which could result in enforcement measures and new rules

Charge Card Debt Soars; Outlook Calls for More

U.S. credit card debt soared by $57.1 billion – up 47% – in 2014 compared to 2013 and the outlook calls for the total to reach $60 billion this year, according to a new survey from CardHub.