Account Recovery

JUNE 20, 2024

Artificial intelligence (AI) chatbots are transforming the banking sector, offering significant cost savings, improved efficiency, and enhanced customer satisfaction, according to a published report. These digital assistants are set to revolutionize customer service and internal operations within financial institutions.

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Financial services Financial Institution Banks 130

Account Recovery

NOVEMBER 7, 2022

The Massachusetts Division of Banks has issued a cease and desist order to a debt collector that has been accused of operating in the state for more than six years without a license, in violation of state law. A copy of the order, issued against Full Circle Financial Services, can be accessed by clicking here.

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Debt collector Financial services Banks 246

Account Recovery

AUGUST 27, 2024

Bank, a leading financial services provider, has announced the completion of its acquisition of Salucro Healthcare Solutions LLC, a Tempe, Arizona-based company specializing in healthcare financial technology. Bank reflects a growing trend of financial institutions investing in specialized healthcare fintech.

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Account Recovery

OCTOBER 20, 2023

The Consumer Financial Protection Bureau yesterday proposed its long-awaited open banking rule, which is intended to increase competition among financial services institutions for consumers’ business and would require institutions to share information with each other at the request of consumers.

Banks 130

Banks Financial services 130

Account Recovery

FEBRUARY 25, 2025

Working together on the project were the Student Borrower Protection Center, Americans for Financial Reform, and the Consumer Federation of America. Comerica is alleged to have deliberately disconnected more than 24 million customer service calls, charged illegal ATM fees to more than one million cardholders, and mishandled fraud claims.

Banks 130

Banks Financial services Government 130

Account Recovery

FEBRUARY 27, 2024

A bill has been introduced in the House of Representatives by the chairman of the House Financial Services Committee that would require federal banking regulators to each establish Financial Services Innovation Offices within their agencies. This is the second time that Rep. Patrick McHenry [R-N.C.]

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Banks Financial services 130

Account Recovery

DECEMBER 20, 2023

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency reached separate settlements with U.S.

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Banks Financial services 130

PDC Flow

JANUARY 26, 2021

Here are just some of the many financial services podcasts available centering on accounts receivable , consumer finance and other aspects of business that can strengthen your skills and keep your company current. Financial Services and Fintech. Understanding financial services is essential for many aspects of business.

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Financial services Accounts Receivables Management Law Firms Collections 96

Account Recovery

MARCH 8, 2022

Sherrod Brown [D-Ohio], the chairman of the Senate Banking Committee, that would ban forced arbitration clauses in the financial services industry. A bill has been introduced in the Senate by Sen. A copy of the bill, S. 3755, called the Arbitration Fairness for Consumers Act, can be accessed by clicking here.

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Financial services Banks 246

Account Recovery

MAY 24, 2023

The Consumer Financial Protection Bureau yesterday announced a $9 million settlement with Citizens Bank over a lawsuit that was filed in 2020 accusing the financial services giant of failing to properly manage disputes and fraud claims filed by the bank’s credit card customers.

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Banks Financial services 130

Account Recovery

JULY 12, 2023

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency levied fines and restitution in the amount of $250 million on Bank of America yesterday, accusing the financial services giant of repeatedly charging NSF fees on the same transaction, withholding bonuses on credit cards, and illegally accessing consumers’ (..)

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Banks Financial services 130

Jimerson Firm

JULY 22, 2020

That trend holds true in the financial services industry, despite such lawsuits being more commonly associated with lower paid jobs. Below, we discuss three of the most common wage and hour issues that commonly arise in the financial services industry. Marketing, servicing or promoting the employer’s financial products.

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Financial services Law Firms Judgment Loans 94

Nerd Wallet

FEBRUARY 17, 2021

The best bank for your small business depends largely on what you’re looking for: a checking account, savings account or different financial services altogether. The article 6 Best Banks for Small Business originally appeared on NerdWallet. Randa Kriss writes for NerdWallet. Randa Kriss writes for NerdWallet.

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Banks Financial services 104

Account Recovery

JANUARY 13, 2021

Sherrod Brown [D-Ohio], the new chairman of the Senate Banking Committee, met with reporters yesterday to outline his agenda for the coming Congressional session. … The post New Senate Banking Chair Lays Out Agenda, Plans to Restore CFPB to ‘Full Strength’ appeared first on AccountsRecovery.net.

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Banks Collections Financial services 147

True Accord

JULY 27, 2020

Banks, lenders, and other financial players are accelerating their digital transformation roadmaps, shortening years’ worth of development into mere months, in an attempt to service consumers at scale while managing the complexities of our new normal and the limitations of outdated infrastructure.

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Financial services Financial Institution Lender Banks 103

Consumer Finance

SEPTEMBER 10, 2024

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

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Banks Financial services 140

Consumer Finance

SEPTEMBER 16, 2024

The CFPB today published guidance to help federal and state consumer protection enforcers stop banks from charging overdraft fees based on phantom opt-in agreements.

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Banks Financial services 133

Consumer Finance

OCTOBER 18, 2023

The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.

Banks 143

Banks Financial services 143

True Accord

SEPTEMBER 23, 2020

Last week, Sheila Monroe, TrueAccord’s COO, was the featured guest on “Credit Eco To Go,” a consumer finance podcast hosted by Joann Needleman, a leading financial services attorney at Clark Hill. The theme was putting the “consumer” back into consumer financial services.

Financial services 97

Financial services Creditors Banks Government 97

Account Recovery

APRIL 8, 2025

returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University. About PRA GroupAs a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc.

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Debt Buying Loans Financial services Creditors 130

Consumer Finance

DECEMBER 18, 2023

The Consumer Financial Protection Bureau ordered U.S. Bank to pay nearly $21 million for keeping consumers from accessing unemployment benefits during the COVID-19 pandemic.

Banks 144

Banks Financial services 144

Consumer Finance

OCTOBER 10, 2023

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, such as charging excessive fees, for basic information about their own accounts.

Banks 142

Banks Credit Unions Credit Unions Financial services 142

Consumer Finance

OCTOBER 21, 2024

The CFPB finalized a rule to give consumers greater rights, privacy, and security over their personal financial data by requiring providers to unlock personal financial data for free.

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Financial services Banks 144

Account Recovery

JUNE 14, 2024

the Ranking Member of the Senate Banking Committee, are introducing legislation that would place the Consumer Financial Protection Bureau under the congressional appropriations process. A number of Senate Republicans, including Sen. Tim Scott [R-S.C.],

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Financial services Banks 130

Consumer Finance

FEBRUARY 15, 2024

The Consumer Financial Protection Bureau (CFPB) today reported on the first set of results from the newly updated Terms of Credit Card Plans survey.

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Credit Unions Credit Unions Banks Financial services 144

Fico Collections

JANUARY 11, 2022

Last year we published a highly successful The 11 Commandments of Digital Banking eBook that introduced the 11 commandments: Digital lift-and-shift is not a strategy! In addition to a new blog post that will be published monthly over 5 months, we are also excited to launch the following event: LinkedIn Live on Digital Banking.

Banks 98

Banks Financial Institution Financial services Government 98

Account Recovery

AUGUST 29, 2022

The Connecticut Department of Banking has revoked the consumer collection agency license and imposed a fine of $100,000 on a collection agency for failing to provide information requested during an examination, which rendered the state unable to determine the financial responsibility and general fitness of the operation that it could operate soundly (..)

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Collections Agency Collection Agencies Consumer Collections Banks 244

Account Recovery

SEPTEMBER 10, 2024

“Adrian has played a leading role in driving the development of innovation and transformations at top global financial services institutions. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. About PRA Group, Inc.As

Manufacturing 130

Manufacturing Financial services Financial Institution Banks 130

True Accord

OCTOBER 22, 2024

Along with taking action against more than a handful of financial services companies in the name of consumer protection, the agency made headway on myriad other issues. Treasury’s request for information on the use of artificial intelligence in the financial services sector.

Student loans 93

Student loans Student Loans Loans Debt collector 93

Jimerson Firm

MARCH 10, 2021

Oftentimes, individuals or businesses borrow money from a bank or lender, and unfortunately, are unable to pay the loan payments. In this event, the borrower may try to shift the blame of their inability to pay on the bank or lender, by filing a claim for negligent loan processing or underwriting, and/or breach of fiduciary duty.

Banks 98

Banks Loans Lender Financial services 98

Consumer Finance

SEPTEMBER 10, 2024

The CFPB ordered TD Bank to pay $7.76 million to tens of thousands of victims because of the bank’s illegal actions.

Banks 95

Banks Consumer Credit Financial services 95

Nerd Wallet

NOVEMBER 16, 2021

Cryptocurrency, the blockchain-based digital currency that has captured the interest of investors and financial service firms alike, has a challenging problem. The article From Cryptocurrency to Cash: How to Bank Your Digital Coin originally appeared on NerdWallet. It can be hard to actually spend this currency.

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Banks Education Financial services 75

Consumer Finance

JANUARY 23, 2024

The Consumer Financial Protection Bureau proposed to block financial institutions from one potential source of new junk fee revenue – fees on instantaneously declined transactions.

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Financial Institution Banks Financial services 137

Account Recovery

MARCH 16, 2021

The Federal Trade Commission yesterday announced settlements in a pair of cases it brought under Operation Corrupt Collector, where each of the defendants have agreed to lifetime bans from working in the collection industry and will turn over all the money in their bank accounts to satisfy more than $27 million in judgments that were … The post (..)

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Collections Trade Judgment Banks 242

Account Recovery

FEBRUARY 18, 2025

Michael has spent over 20 years in executive and leadership positions within the financial services industry. Prior to that, he spent 8 years in various areas of banking, primarily Commercial Lending. He is the Chief Operations Officer for Velocity Portfolio Group, Inc. a collection agency.

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Collections Agency Collection Agencies Law Firms Original Creditor 130

Troutman Sanders

JANUARY 30, 2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On January 29, Acting Comptroller of the Office of the Comptroller of Currency (OCC) Michael J.

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Financial services Financial Institution Banks Credit Unions 52

Account Recovery

JANUARY 25, 2024

The Consumer Financial Protection Bureau yesterday issued a Notice of Proposed Rulemaking that would prohibit banks and financial services companies from assessing non-sufficient funds fees on transactions that are declined in real time.

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