Banks Consumer Credit Credit Unions 
Fico Collections
JULY 9, 2021
For credit unions and smaller banks in North America, the challenge of how to compete with their bigger counterparts is a constant and pressing matter. The solution integrates Equifax Consumer Credit Information and FICO risk decision management technology with marketing campaign automation and execution.
Troutman Sanders
JANUARY 25, 2023
Bankers are opposing any effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to reduce or eliminate the late fee safe harbor, citing a potentially significant adverse impact on community banks and credit unions.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Troutman Sanders
AUGUST 9, 2022
Bankers are gearing up to oppose an effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to prevent an increase in allowable late charges for credit cards. In letters dated August 1, the American Bankers Association , Consumer Bankers Association, Credit Union National Association, and National Association of Federally?Insured
FFGN COLLECT NY
JUNE 30, 2021
Today, you have six years to collect monies owed from consumer credit transactions. However, a bill approved by the New York Senate seeks to shorten the time to collect consumer credit transactions to three years. Personal bank loans. Credit union loan. Credit cards. Home equity loans.
Troutman Sanders
DECEMBER 20, 2023
The report found that roughly a quarter of consumers are still being charged these fees despite the CFPB’s hostility towards so called “junk fees,” which has led many banks and credit unions to eliminate such fees. Overdraft fees are somewhat more prevalent than NSF fees (23.6% versus 20%, respectively).
Troutman Sanders
APRIL 6, 2021
Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. AI also can inform credit decisions by analyzing traditional data ( i.e., data typically found in a consumers’ credit files) and alternative data.
Troutman Sanders
APRIL 25, 2023
Implying that high interest rates are solely a result of lack of competition, the CFPB has: (i) published a proposed rule that would amend Regulation Z to decrease the safe harbor for credit card late fees; (ii) launched an update of its credit card database; (iii) and requested public feedback on how the consumer credit card market is functioning.
Expert insights. Personalized for you.
52 
Let's personalize your content