Account Recovery
AUGUST 21, 2020
Less than a month after suing one federal regulator, a group of state attorneys general filed suit yesterday against another one, seeking to block the implementation of a rule aimed at ensuring the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying and … The post State AGs Sue FDIC Over (..)
Account Recovery
JANUARY 6, 2021
A group of eight state attorneys general filed suit yesterday in federal court in New York to block a rule that was issued by the Office of the Comptroller of the Currency that aimed to close a gap in the process of banks selling loans to third parties, such as debt buyers, arguing that the … The post States Sue Bank Regulator to Overturn ‘True (..)
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Account Recovery
MARCH 11, 2025
Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.
Account Recovery
APRIL 8, 2025
He led our expansion into two new markets, modernized the IT infrastructure and contact platforms, enhanced the data and analytics function and ultimately created one of Europe’s most cost-efficient debt buying platforms. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.
Account Recovery
FEBRUARY 14, 2022
A District Court judge in California has sided with the Office of the Comptroller of the Currency, a federal regulator of banks, after it was sued by three states — California, Illinois, and New York — for allegedly overstepping its authority when it issued a rule ensuring the terms of a loan remain valid after … The post Court Rules (..)
Account Recovery
JANUARY 18, 2022
A debt buyer has filed suit against Citigroup, accusing the mega-bank of a “classic ‘bait and switch’ ” by promising to sell delinquent credit card portfolios containing accounts with certain characteristics, but instead putting accounts into the portfolios that had a much lower chance of recovery.
Account Recovery
APRIL 7, 2021
CHICAGO — April 6 — CMS Services, a leading provider of compliance management services to the Accounts Receivable Management industry, is excited to announce the launch of its Bank Terms & Conditions portal, providing copies of the terms and conditions issued by hundreds of credit grantors and financial institutions nationwide from (..)
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