Account Recovery

JANUARY 5, 2024

A trio of banking trade groups have written a letter to the director of the Consumer Financial Protection Bureau, claiming that the Bureau has not properly assessed the potential economic impact of a forthcoming proposed rule regulating overdraft and NSF fees and has not taken the proper steps to issue the rule.

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Banks Trade 147

Credit Corp

MARCH 10, 2021

Stock trading has become synonymous with building wealth today. Several decades ago, stock trading was something done only by the rich on Wall Street. However, today, with fast computers and online brokers, online trading has the lowest barriers to entry in its history. By educating yourself, you can start trading online today!

Trade 105

Trade Retail Education Banks 105

Fico Collections

MARCH 24, 2021

In part 1 of the series on trade-based money laundering (TBML) , we established a definition of the term, explored some recent studies and highlighted some typical techniques employed by the criminals. must report potentially suspicious activity (including trade-related transactions) to FinCEN. Financial institutions in the U.S.

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Trade Financial Institution Banks Education 98

Account Recovery

JUNE 29, 2022

Chamber of Commerce and three national banking trade groups, who yesterday started campaigns to draw attention to what they labeled as Chopra’s “radical agenda and reckless actions.” Rohit Chopra, the Director of the Consumer Financial Protection Bureau, has finally gone too far, in the eyes of the U.S.

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Trade Banks 246

Account Recovery

DECEMBER 14, 2021

COLLECTORS BANNED FROM INDUSTRY IN SETTLEMENT WITH FTC The remaining defendants in a lawsuit filed by the Federal Trade Commission have reached a settlement, under which they will be permanently banned from participating in the collection industry as well as surrender funds in a number of bank accounts and the title to a Mercedes as … The post (..)

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Trade Banks Collections 242

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. For many retirees, who often live on a fixed income, its a real challenge to pay down debt without significant trade-offs.

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Credit Card Debt Credit Unions Credit Unions Debt Buying 130

Account Recovery

APRIL 8, 2025

Under the bill, debt settlement services would be required to obtain a license from the North Carolina State Banking Commission. 734 would make debt settlement an unfair trade practice, banning it outright in North Carolina, effective July 1, 2025. If passed, the bill will come into effect on January 1, 2026. If passed, H.B.

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Debt settlement Debtor Trade Creditors 100

Collection Industry News

JUNE 5, 2022

The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups.

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Credit Unions Credit Unions Trade Financial Institution 75

UK debt collections

APRIL 28, 2021

Three Directors of a Finance firm have been banned for trading whilst insolvent. Independent Derivative Traders Ltd traded as Futex. They provided access to a financial markets trading platform for sub contracted independent traders in the UK. It became apparent that the company was not able to meet its liabilities.

Trade 72

Trade Bankruptcy Creditors Government 72

Hudson Weir

FEBRUARY 11, 2025

If youre trying to find out what does IBR mean or what does IBR stand for in a business or banking context, thats understandable as there are some conflicting answers online. Banks often initiate IBRs when they have concerns about the borrowing companys financial stability or solvency. IBR stands for Independent Business Review.

Trade 52

Trade Banks Lender Loans 52

Nerd Wallet

AUGUST 27, 2020

The $0 annual-fee Bank of America® Travel Rewards credit card makes it easy to earn travel rewards through everyday spending. You can trade your points directly for airline tickets, hotel stays, rental cars. The article How to Maximize the Bank of America Travel Rewards Credit Card originally appeared on NerdWallet.

Banks 84

Banks Trade 84

Account Recovery

MARCH 8, 2024

As promised, the Chamber of Commerce, along with a number of other banking trade groups — including some from Texas — filed a lawsuit yesterday against the Consumer Financial Protection Bureau, saying the regulator overstepped its authority it issuing a rule capping late fees that can be charged for missed credit card payments.

Trade 147

Trade Banks 147

Account Recovery

OCTOBER 30, 2023

The Federal Trade Commission on Friday announced it has amended the Safeguards Rule that will require non-bank financial institutions to report data breaches to the agency.

Financial Institution 130

Financial Institution Trade Banks 130

UK debt collections

MARCH 5, 2025

Bristol based debt recovery business which didnt hand over money is shut down An Insolvency Service investigation found that Encore Capital Group Inc Ltd trading as Encore Debt Recovery failed to fully hand over the money it collected it has been revealed. How long have they been trading?

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Debt collector Debt Recovery Collection Agencies Collections Agency 68

Account Recovery

FEBRUARY 18, 2025

Prior to that, he spent 8 years in various areas of banking, primarily Commercial Lending. About RMAI Receivables Management Association International (RMAI) is a nonprofit trade association representing more than 600 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market.

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Collection Agencies Collections Agency Law Firms Original Creditor 130

Collect More

NOVEMBER 16, 2021

If they convincingly reassure you, you’re good to go but just remind them again of your trading terms. The post You’re not a bank- how to stop your customers from treating you like one. Don’t feel the need to justify the question though as you should always be hyper vigilant at this time of year. Cheers guys.

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Banks Trade Collections 100

Troutman Sanders

AUGUST 8, 2023

As discussed here , on April 26, the Texas Bankers Association (TBA), the American Bankers Association (ABA), and Rio Bank, McAllen, Texas (Rio Bank) filed a complaint in the U.S. CFPB case by trade associations seeking to level the playing field for their members.

Banks 52

Banks Trade Financial services Collections 52

Account Recovery

JANUARY 5, 2024

A trade group representing non-bank financial institutions that provide sales-based financing to businesses has filed a lawsuit against the Consumer Financial Protection Bureau claiming it has overstepped its authority by issuing a rule regulating how lenders must collect and submit data related to small business lending activities.

Financial Institution 130

Financial Institution Trade Lender Banks 130

Troutman Sanders

JANUARY 11, 2024

Sheri, a member of our Employee Benefits and Executive Compensation practice, provides our listeners with a 30,000-foot view of what equity incentive plans typically look like at a public company, such as a publicly traded bank or another financial institution. Transcript: Equity Award Delegations for Publicly Traded Companies (PDF)

Trade 52

Trade Financial Institution Government Banks 52

Qualco

APRIL 8, 2025

Read how QUALCO helped TBC transform its factoring operations: George Koukis: Today, we are diving into the incredible transformation of TBC Bank's factoring business. Joining me is Mrs. Tamara Khizanishvili, Director of Trade Finance and Factoring Department, with more than 20 years of industry experience. Welcome, Tamara.

Banks 52

Banks Trade Collateral Retail 52

Nerd Wallet

OCTOBER 20, 2021

19 in a ProShares exchange-traded fund tied to bitcoin futures. And crypto exchanges are advertising on prime-time TV alongside banks and insurers. Cryptocurrency, once an obscure corner of the financial world, is going mainstream. It made its debut on the New York Stock Exchange on Oct. Andy Rosen writes for NerdWallet.

Trade 118

Trade Banks 118

Nexa Collect

DECEMBER 12, 2021

DeFi applications reconstruct traditional finance systems revolving around borrowing, lending, trading, and investing with digital assets. The magic revolution of DeFi is disempowering the centralized traditional banking system & empowering people through peer-to-peer exchanges that enable decentralized finance for everyone.

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Collateral Banks Financial Institution Financial services 130

Troutman Sanders

SEPTEMBER 5, 2023

The current situation … poses serious compliance challenges for the membership of the Trades, as institutions that are identically subject to the [Final] Rule are now effectively subject to different compliance and implementation dates. CFPB injunction and those that are not covered.

Trade 52

Trade Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

SEPTEMBER 25, 2023

On August 1, the two major national credit union trade associations — the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA) — announced plans to merge and create a new organization called America’s Credit Unions.

Credit Unions 52

Credit Unions Credit Unions Trade Banks 52

Account Recovery

OCTOBER 3, 2023

The Federal Trade Commission and the Consumer Financial Protection Bureau have filed an amicus brief in a Fair Credit Reporting Act case before the Court of Appeals for the Second Circuit, asking the court to reverse a decision related to deleting information disputed by a consumer that cannot be verified by the furnisher of the […]

Trade 147

Trade Banks 147

Nexa Collect

AUGUST 13, 2020

Each has its own way of gathering data and scoring your business, but they all look for information from investors, lenders, banks, and credit card issuers. The number of trade experiences is a driving force behind achieving a good business credit score. But future investors or your bank will care, if you ever need a loan.

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Trade Loans Creditworthiness Judgment 130

Troutman Sanders

AUGUST 15, 2023

The Independent Community Bankers of America, Independent Bankers Association of Texas, and Texas First Bank had filed their own Unopposed Emergency Motion for Leave to Intervene (discussed here ) in the same action on August 4. Supreme Court’s final decision in Community Financial Services Association (CFSA) v. CFPB (discussed here ).

Credit Unions 52

Credit Unions Credit Unions Trade Financial Institution 52

Troutman Sanders

AUGUST 24, 2022

Banking trade groups are challenging a request for information (RFI) issued by the Consumer Financial Protection Bureau (CFPB) regarding customer service at large financial institutions. Customer service is an important and essential priority for banks. This approach is unhelpful to consumers … and is likely to confuse them.”

Banks 52

Banks Financial Institution Trade 52

Nexa Collect

OCTOBER 31, 2022

Contractors, Special Trade. Credit Unions. Retail/Consumer Misc. Pest Control. Auto Supply & Repair. Restoration Companies. Commercial. Industrial. Optometrists. Repair Services. Waste Management. Funeral Services. Business Services. Manufacturing. Pharmaceutical. Wholesale, Durable. Social Services Misc. Real Estate Management.

Credit Unions 130

Credit Unions Credit Unions Manufacturing Collection Agencies 130

UK debt collections

FEBRUARY 28, 2024

“Many hospitality businesses are on life support, and with the services sector leading the way into recession , business failures in the restaurant trade are likely to continue to rise throughout 2024. As rates have risen banks are piling pressure on restaurants to make capital as well as interest repayments on loans.

Trade 99

Trade Loans Government Banks 99

Troutman Sanders

NOVEMBER 2, 2023

As discussed here , on August 1, the two major national credit union trade associations — the National Association of Federal Credit Unions (NAFCU) and the Credit Union National Association (CUNA) — announced plans to merge and create a new organization called America’s Credit Unions.

Credit Unions 52

Credit Unions Credit Unions Trade Banks 52

Troutman Sanders

AUGUST 15, 2023

On August 8, the Federal Reserve Board (Fed) issued a press release providing additional information on its Novel Activities Supervision Program (Program) to monitor novel activities in the banks it oversees. This includes all manner of the growing number of customer-facing banking as a service (or BAAS) partnerships.

Banks 52

Banks Collateral Trade Government 52

Nexa Collect

NOVEMBER 1, 2021

Security and Exchange Commission (SEC) treats cryptocurrencies as securities, Commodities and Futures Trading Regulator (CFTC) considers cryptocurrencies as commodities, and. have seized billions of dollars worth of cryptocurrencies to stop tax evasion, money laundering, false filling of tax returns, and trading illegal goods.

Debtor 130

Debtor Creditors Government Banks 130

Credit Corp

JULY 24, 2021

Here’s a rundown of everything you’ll need to start trading stocks online in 2021. Moneylenders and brokers traded bonds or debt certificates between government entities, businesses, and individuals. Five securities, including three government bonds and stocks of two banks, began trading. Stock Market.

Trade 81

Trade Government Banks Loans 81

Troutman Sanders

MAY 2, 2023

CFS Partner Lori Sommerfield brings more than two decades of experience in representing a wide range of banks, financial institutions, and financial services companies in fair lending and responsible banking regulatory compliance. Transcript: CFPB’s Section 1071 Final Rule (Part 1): A General Overview

Financial Institution 97

Financial Institution Fair Debt Collection Financial services Law Firms 97

Troutman Sanders

AUGUST 10, 2023

The banking trade groups argued that relief should be provided to banks nationwide to “be prudent and ameliorate confusion.” On August 2, the TBA and ABA sent their own letter to the CFPB requesting that it extend the stay outlined in the injunction order to all FDIC-insured banks.

Banks 52

Banks Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

OCTOBER 27, 2022

While not explicitly an open banking or open finance rule, the rule will move us closer to it, by obligating financial institutions to share consumer data upon consumer request, empowering people to break up with banks that provide bad service, and unleashing more market competition.

Banks 52

Banks Financial Institution Credit Unions Credit Unions 52