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Q2 Industry Insights: Higher Monthly Expenses for Consumers, Regulatory Guidance for Financial Institutions

True Accord

If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations and preferences when attempting to collect and employing digital strategies to boost engagement are more important than ever. There were also a couple of notable court decisions impacting debt collectors last quarter.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debt collectors. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here. For more information, click here.