Legal Proceedings

U.S. Debt collection cases hit 4.7 million in 2022, with filings up 120% since 2019 in some areas, driven by debt buyers like LVNV Funding whose cases rose 350% over the same period. The top 10 debt collectors now dominate court dockets, accounting for 80% of cases in Connecticut and nearly half in Indiana. Most involve debts under $3,000 from credit cards, medical bills, and utilities, with defendants often failing to appear and facing default judgments lasting 10+ years. Courts have become profit centers for debt buyers who purchase portfolios cheaply and rely on judicial enforcement, not genuine collection efforts.

US Attorney closed criminal probe into Fed Chair Powell last Friday; he stays on Board of Governors post-transition to Kevin Warsh around May 15th.

Former Attorney General Pam Bondi announced she will not comply with a bipartisan House subpoena requiring her April 14 testimony on her handling of the Epstein files, citing her removal from office earlier this month. The subpoena, proposed by Rep. Nancy Mace and backed by Democrats plus four Republicans, seeks answers on $190 million in allegedly mishandled Epstein-related documents. Epstein survivors Maria and Annie Farmer criticized the DOJ's handling as breaking survivor trust, while Democrats threaten contempt proceedings.