The auto lease market continued to slow down for much of 2022 causing some automakers to lose traditionally loyal customers. A new TransUnion (NYSE: TRU) study found that the auto lease market was down almost half from 31% in January 2020 to 17% in July 2022, more than twice the decrease in auto financing over the same period.
A hacker siphoned customer data from T-Mobile for more than a month. In that time, the bad actor obtained data about 37 million customers, the firm reported in a Thursday (Jan. 19) filing with the Securities and Exchange Commission (SEC). T-Mobile discovered Jan. 5 that a bad actor had been getting data via an application programming interface (API) since around Nov. 25. The firm was able to stop the data breach within a day of discovering it, according to the filing.
May a debt collector incur liability under the Fair Debt Collection Practices Act (FDCPA) by seeking to collect a debt under a state court judgment later determined to be void? Not according to the Third Circuit Court of Appeals in a nine-page opinion issued on January 11, 2023 in the case of Barbara Lowe v. FBCS, Inc. et al. The facts in Lowe are clearly peculiar, but the case offers some reassurance to collections firms facing FDCPA liability due to administrative mishaps in state court collection proceedings.
Mortgage servicers are often the first to communicate with struggling homeowners about options available to them to avoid foreclosure. In today’s market, many homeowners, including those potentially facing foreclosure, have sufficient equity in their homes that a traditional sale could be a better alternative to foreclosure.
January 19, 2023 - The number of healthcare bankruptcies increased by 84 percent from 2021 to 2022, driven by rising costs, workforce shortages, and high interest rates, according to a report from Gibbins Advisors.
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