Fico Collections

DECEMBER 15, 2021

Prior to COVID, digital transformation was gathering momentum in financial services and was then turbo-charged by the emergence of the pandemic. Many journeys (both acquisition and servicing) are now well-established in the digital channel and customers have adopted them at an accelerated rate out of necessity during lockdowns.

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Consumer Financial Services Law

MAY 10, 2017

A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.

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Fico Collections

JANUARY 8, 2021

FICO’s suite of interconnected Acquisition, Origination, and Growth capabilities for Telecommunications helps organizations do exactly that. If you’re interested in making smarter, faster acquisition and retention decisions, we’d love to talk with you. . #2. Finding Business Opportunities From Covid-19.

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Fico Collections

JULY 15, 2022

in 1989, it meant lenders of all sizes could leverage the technology of scoring and open up credit to consumers that they might not have lent to in the past. Using new approaches to improve financial inclusion. Financial inclusion also means investing in innovation. Hundreds of lenders in the U.S.

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Collection Industry News

JANUARY 24, 2022

This would no-doubt portend a new CFPB-styled “Operation Choke Point,” which was the name of the 2013 Department of Justice initiative to investigate financial institutions for their role in processing payments to certain categories of lawfully operating merchants that had been associated with high-risk activities.

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Fico Collections

NOVEMBER 15, 2022

Successfully devising Next Best Actions / Next Best Offers is a win-win for lender and customer alike. All components are integral to informing and allowing financial institutions take advantage of each and every single customer interaction. Case Study – How Loblaw Adopted FICO Analytics to Deliver Customer Loyalty at Scale.

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Fico Collections

MARCH 7, 2023

At the same time, examples of AI-powered financial institutions denying credit applications because of bias unwittingly loaded into the AI engines’ algorithms also eroded trust in AI for credit decisions. The State of Responsible AI in Financial Services 4 AI Predictions for 2023: From the Great Correction to Practical AI

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Better Credit Blog

SEPTEMBER 18, 2020

Future lenders can see them and make loan decisions based on the fact that you failed to pay a debt. Founded in 2005 in Colorado, they specialize in debt collection on the behalf of financial institutions. This can mean trouble for your credit score. Collection accounts are a black mark on your credit report.

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Better Credit Blog

AUGUST 31, 2020

Collections accounts stay on your credit report for as long as seven years, which means that any lender or creditor can make decisions based on the fact that you have had debt in collections. This means that you could be denied credit cards, mortgages, and other financial loans down the road.

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Fico Collections

FEBRUARY 12, 2023

As a financial institution, you already have enough customer data 
to make subtle adjustments to your customer model that can create a better experience. What can financial institutions learn from TikTok? Making enjoyable financial services content isn’t easy, but the medium matters a lot.

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Better Credit Blog

AUGUST 31, 2020

This means that future lenders can see that you had a debt that went to collections, and they can make loan decisions accordingly. They collect on behalf of a variety of industries such as health care, telecommunications, financial institutions, government agencies, utility providers, and many more.

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Troutman Sanders

JUNE 14, 2023

The proposed guidanceadvises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal. For more information, click here.

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Troutman Sanders

FEBRUARY 22, 2021

On February 18, the Federal Reserve Board announced a final rule intended to reduce risk and increase efficiency in the financial system by applying netting protections to a broader range of financial institutions. The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S.

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Troutman Sanders

SEPTEMBER 21, 2020

Federal Activities: On September 18, 2020, the Federal Reserve Board updated its frequently asked questions (FAQs) to clarify the Board’s and Department of Treasury’s expectations for lenders underwriting the Main Street Lending Program. The sum in July of all net foreign acquisitions of long-term securities, short-term U.S.

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