The New York City Department of Consumer and Worker Protection (DCWP) has announced proposed amendments to its debt collection rules. The DCWP will hold a public hearing (PDF) at 11 a.m. Nov. 29, 2023, to discuss the proposal and take comments. Written comments on the proposed rules are due by that date.
For the month of July, 2.7% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.3 percentage point decrease compared with 3% in July 2022 and a 0.1% increase from June 2023.
Credit reports are used to make decisions that affect every facet of peoples’ lives. Credit reports compiled by consumer reporting companies are used by lenders, insurers, employers, landlords, and others—yet these reports frequently contain errors. By one estimate, one in five Americans has an error on at least one credit report.
HOUSTON – U.S. Credit card debt recently hit a record $1 trillion and research shows that 42% of college students are a large part of that number.
The Consumer Financial Protection Bureau said that higher interest rates have wreaked havoc on the mortgage market, causing monthly payments to skyrocket for new homebuyers while lenders denied more applicants from getting home loans due to insufficient income.
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