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USA: Senate Bill Targets Data Brokers

Senate Bill Targets Data Brokers Legislators seek accountability from data brokers regarding the information they collect and sell, and aim to prevent brokers from identifying consumers who are financially at risk. On Feb. 12, Sens. Jay Rockefeller (D-W.Va.) and Edward Markey (D-Mass.) introduced legislation that would restrict data brokers from collecting or soliciting consumer information in deceptive ways, according to The......

U.K. Consumers Limit Their Spending More Than Americans

A personality survey reaffirms the differences between the British and the Americans, facts that marketers can exploit when creating their campaigns. UK consumers are more pessimistic about the future and have taken the recession more to heart than those in the US, according to exclusive research revealed in Marketing Week. The report by VisualDNA, which collects data from personality quizzes......

USA: TCPA Class Action Dismissed Because Consumer Gave Prior Express Consent

TCPA Class Action Dismissed Because Consumer Gave Prior Express Consent Federal judge found single text message not actionable and dismissed the case because the consumer provided her express consent to be contacted on her cellphone number when she gave the number as contact information while making a flight reservation. In a Jan. 28, 2014, decision, the U.S. District Court for......

Lender Tracking Of Customers’ Social Media Use Raises Concerns

Lender Tracking of Customers’ Social Media Use Raises Concerns Consumer regulators are reviewing the practice of basing loan decisions, in part, on use of sites such as Facebook and Twitter. Lending companies are increasingly using social media sites for information about borrowers’ credit eligibility and their identity, a practice that is concerning for consumer groups and regulators, TheWall Street Journal recently reported.......

Increasing Canadian Consumer Debt Pushes Borrowing Limits

Increasing Canadian Consumer Debt Pushes Borrowing Limits Lending growth could slow until borrowers catch up on their payments. Consumer household debt is increasing in Canada and policymakers say the trend could slow lending growth in 2014, according to a recent Canadian Press article.  Interest rates on loans have been low in Canada for years, causing consumers there to borrow at record amounts.......

USA: Student Loan Debt Levels Surpass Other Consumer Borrowing

Student Loan Debt Levels Surpass Other Consumer Borrowing Federal Reserve seeks to provide more data about national trend. Economists with the New York Federal Reserve are monitoring student loan debt trends as the amount of money people owe for their education continues to grow, according to a recentMoneynews article. The Fed economists are researching the trends to determine if high student......

Minnesota attorney general sues Plymouth debt firm over 22% bogus interest

A Minnesota debt buyer accused of charging people as much as 22 percent in bogus interest on old bank overdrafts and fees is the latest target in the state’s crackdown on illegal debt collections. State Attorney General Lori Swanson on Wednesday sued Bradstreet & Associates LLC, claiming the Plymouth-based collections agency added illegal interest on old debts that Wells Fargo......