Fico Collections

FEBRUARY 16, 2021

But more tellingly, the penalty related to the mistreatment of business and personal customers who fell behind on credit card and loan payments between 2014 and 2018 – well before many of us had even heard of COVID-19. It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules.

Lender 52

Lender Collections Acquisition Loans 52

Fico Collections

MARCH 17, 2022

Loans That Improve Lives. million loans worth about USD$3.7B These loans are often life-changing, allowing individuals to build businesses, access housing and education. Mibanco’s goal is to expand access to credit for the unbanked or credit invisible,” said Sebastián Valera, risk transformation manager at Mibanco.

Loans 52

Loans Retail Banks Education 52

Collection Industry News

OCTOBER 5, 2021

As more established companies like Mastercard get into this space, by launching new products, through partnerships, or via acquisitions, “we do expect that buy now, pay later will become ubiquitous, just given the utility that it’s demonstrated over the last year or so,” Mark Palmer , an analyst at BTIG , said in an interview with Yahoo Finance.

Credit Card Debt 52

Credit Card Debt Loans Startups Acquisition 52

Collection Industry News

OCTOBER 27, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

Debtor 40

Debtor Debt collector Acquisition Fair Debt Collection 40

Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Collection Industry News

OCTOBER 21, 2022

Although less exposed to risky property loans than before the 2007-2008 global financial crisis, banks are already on alert for breaches in loan terms linked to an asset’s market value or the rental income relative to the debt secured on it, sources said. But the government’s Sept.

Retail 40

Retail Lender Loans Acquisition 40

Fico Collections

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. But competitive loan pricing doesn't need to be a downward spiral.

Banks 52

Banks Loans Startups Financial Institution 52

Collection Industry News

OCTOBER 21, 2022

Year-on-year profits for the third quarter dropped across all the main financial groups on Wall Street due to slower investment banking activity and more provisioning of safety funds to cover potential loan losses, despite the fact that rising interest rates also pushed up their revenue. If the big six released $4.5

Banks 40

Banks Lender Acquisition Loans 40

Better Credit Blog

AUGUST 31, 2020

This means that you could be denied credit cards, mortgages, and other financial loans down the road. They specialize in collecting on behalf of higher education institutions, government agencies, financial institutions, credit unions, and other commercial enterprises. You may be curious if ConServe is a legitimate company.

Third-party Debt Collectors 52

Third-party Debt Collectors Debt collector Original Creditor Creditors 52

Collection Industry News

JUNE 14, 2021

The government alleged that Nocera gave his debt collectors drugs to make them more aggressive. In 2019, debt collector Douglas MacKinnon and his Buffalo area companies, Northern Resolution Group, and Enhanced Acquisitions, agreed to pay $60 million to resolve a lawsuit filed by the U.S.

Debt collector 40

Debt collector Judgment Acquisition Collections 40

Better Credit Blog

AUGUST 31, 2020

Future lenders can also see this account and make loan decisions based on the fact that you’ve had a debt move to collections. They collect on behalf of a variety of industries including health care, utility providers, telecommunication services, and government agencies.

Debt collector 53

Debt collector Original Creditor Creditors Collections 53

Troutman Sanders

MAY 5, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Student Loan Servicing. Auto Servicing. The CFPB sees wrongful repossessions everywhere.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

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.

Debt collector 52

Debt collector Fair Debt Collection Original Creditor Collections 52

Collection Industry News

MAY 9, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Student Loan Servicing. Auto Servicing. The CFPB sees wrongful repossessions everywhere.

Financial Institution 40

Financial Institution Repossession Debt collector Student Loans 40

Troutman Sanders

JUNE 14, 2023

On June 7, the CFPB released a blog discussing the fact that the pause on federal student loan interest, payments, and collections is now scheduled to end 60 days after June 30, which means borrowers will have to start making payments soon. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Student Loans Student loans 52

Troutman Sanders

FEBRUARY 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Borrowers deserve and desperately need relief from their Federal student loan burden, and they need that relief immediately.”

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Troutman Sanders

MAY 9, 2022

On May 3, the CFPB issued an advisory after student loan borrowers submitted complaints regarding companies that promised them student loan forgiveness or loan forbearance in exchange for fees amounting to hundreds or thousands of dollars. trillion to the federal government. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Government 52

Troutman Sanders

MARCH 4, 2024

Consumers use comparison-shopping tools to evaluate the costs, features, and terms of many financial products, including credit cards, loans, and bank accounts. The circular explains how these practices may violate federal law and highlights examples of illegal arrangements. For information, click here. For more information, click here.

Financial services 52

Financial services Law Firms Acquisition Debt collector 52

Troutman Sanders

SEPTEMBER 21, 2020

The exercise evaluates the resilience of large banks by estimating their loan losses and capital levels under hypothetical recession scenarios over nine quarters into the future. The sum in July of all net foreign acquisitions of long-term securities, short-term U.S. For more information, click here. On September 16, 2020, the U.S.

Financial services 52

Financial services Banks Government Acquisition 52

Troutman Sanders

JUNE 1, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The report said that low acquisition costs often come coupled with higher interest rates and limited opportunities to refinance.

Financial services 52

Financial services Government Foreclosure Loans 52

Troutman Sanders

JANUARY 26, 2021

On January 20, the White House announced the acting agency leadership in the next phase of the transition of government. Uejio currently serves as the chief strategy officer, and he previously served as the acting deputy chief of staff and lead for talent acquisition.

Student Loans 52

Student Loans Student loans Acquisition Debt collector 52

Troutman Sanders

MARCH 12, 2025

On March 3, the Federal Deposit Insurance Corporation’s (FDIC) board of directors approved the withdrawal of three outstanding proposed rules concerning brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA). The incentive-based compensation proposal, approved on May 3, 2024, was never published.

Financial services 52

Financial services Credit Unions Credit Unions Banks 52