Collection Agencies Credit Unions Financial Institution 
Account Recovery
APRIL 17, 2025
The Bureaus new emphasis on tangible consumer harm, while deprioritizing areas such as medical debt and digital payments, signals a shift in enforcement priorities that may influence the regulatory landscape for many companies in the credit and collection industry.
Account Recovery
SEPTEMBER 18, 2024
As financial institutions continue to seek effective ways to communicate with consumers, text messaging (SMS) is emerging as a powerful tool to boost engagement, according to a published report. Financial institutions are increasingly using it as a way to build trust and create personalized consumer experiences.
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Nexa Collect
NOVEMBER 26, 2022
As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. This means all collection agencies must secure consumer data nearly the same way as banks. The GLBA covers any institutions that provide financial services, including : Handling loans.
Consumer Finance
APRIL 25, 2023
Five federal financial institution regulatory agencies in conjunction with the state bank and state credit union regulators (collectively, agencies) are jointly issuing this statement to remind supervised institutions that U.S. dollar (USD) LIBOR panels will end on June 30, 2023.
Troutman Sanders
NOVEMBER 15, 2022
The Safeguards Rule requires nonbanking financial institutions to develop, implement, and maintain a comprehensive information security program to keep their customers’ information safe. In the letter, the SBA states: “[S]mall financial institutions will need to modify their methods for evaluating these.
Debt Collection Answers
MAY 18, 2023
Dealing with debt collection agencies can be unpleasant, and CCS Offices are no different. It’s common for debt collectors to purchase and sell debts, resulting in the possibility of multiple collection accounts from the same debt appearing on your credit report. Who are CCS Offices?
Collections Law
APRIL 5, 2022
Nearly any commercial enterprise can benefit from professional collection assistance. What does a collection attorney do? Some collection agencies simply send threatening letters, but may not provide much follow through.
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