Inquiry could have important implications for financial institutions, debt collectors and other firms deploying autonomous AI tools. The Federal Trade Commission has opened an investigation into OpenAI, Anthropic and other artificial-intelligence companies over potential consumer harms tied to their technology, ...

‘Varney & Co.’ host Stuart Varney breaks down America's $12.8 trillion wealth surge, Wall Street's role in the gains and how stocks have transformed household wealth. Pool and spa service provider Leslie's Inc. announced this week that it entered into ...

Ahmedabad-based Ignosis AI says it is using roughly 200 voice-based AI agents to manage collections for 400,000 to 500,000 borrowers each month—handling 70% to 80% of cases without human intervention. When a conversation becomes sensitive, disputed or unusually complex, the ...

Credit Acceptance Corp. will provide $694 million in cash restitution and debt relief under a settlement with attorneys general from 41 jurisdictions, resolving allegations that the subprime auto lender originated loans it knew, or should have known, borrowers could not ...

Eleventh Circuit judges pressed a PACE industry group over its contention that property-tax assessments used to repay home-improvement financing are taxes rather than consumer credit, signaling an uphill fight against the CFPB’s mortgage-style disclosure and underwriting rule. A federal appeals ...

Third Circuit says FDCPA’s one-year limitations period cannot be extended through a continuing-violation theory for discrete litigation and enforcement activity. A federal appeals court has narrowed a consumer’s Fair Debt Collection Practices Act claims against a New Jersey collection law ...

State licensing officials and industry stakeholders are focusing attention on Washington’s collection-agency framework as the Department of Licensing convenes a public hearing on debt-collection issues. The Washington State Department of Licensing is hosting a public hearing involving the state’s debt-collection ...

The Federal Communications Commission has unanimously approved significant revisions to its Telephone Consumer Protection Act consent-revocation rules, delivering key changes sought by ACA International and a coalition that included the American Bankers Association and the National Consumer Law Center. The ...

Debt collection is being repositioned inside banks and credit unions—not as a back-end recovery operation, but as a consequential customer-service and retention function. Artificial intelligence is accelerating that change by helping institutions identify distress sooner, offer assistance through preferred digital ...