As the 10+ year debt boom 'economic recovery' draws closer to a breaking point, debt collectors are looking at being granted broader powers to go after late-paying holders of debt including past-due credit card individuals. Overall consumer debt as now increased, as of 1Q 2019, for 19 consecutive quarters, and delinquencies and loan charge-offs are beginning to alarm some of those banks and many others in the financial industry. Is it just a coincidence that new debt collection rule changes are being eyed just as debt defaults begin to rise more rapidly? Could this be another clue as to when the real recession will finally hit? We discuss this and more in today's economic and financial report.
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