Consumer Financial Services Law

JANUARY 14, 2017

The CFPB took issue with: (a) the scores being marketed and represented as being the same scores lenders typically used to determine a consumer’s creditworthiness; and (b) the CRAs not adequately disclosing the monthly charges for the services if not cancelled during the free trial period.

Lender 40

Lender Creditworthiness Financial Institution Education 40

Fico Collections

AUGUST 18, 2022

After immigrating to the US, I wasn’t aware of deposit holding times and made a mistake that led to a bounced check – this could have spiraled out of control and I felt pretty financially unwell after that! Sixty years ago, creditworthiness was a rather subjective notion, then credit scoring came along and changed the world.

Banks 52

Banks Creditworthiness Education Financial services 52

Collection Industry News

JANUARY 13, 2021

Chartered by the Bureau in January of 2020, the Taskforce has examined the existing legal and regulatory environment facing consumers and financial services providers. The post Consumer Financial Protection Bureau’s Taskforce on Federal Consumer Financial Law Releases Its Report appeared first on Collection Industry News.

Creditworthiness 40

Creditworthiness Consumer Credit Banks Education 40

The Kaplan Group

MAY 30, 2024

million business owners , who collectively contribute more than a trillion dollars to the American economy. We’ve collected a list of business credit and loan resources for LGBTQIA+ business owners to help get you up and running. Credit Check : Lenders will assess your creditworthiness to determine loan approval and terms.

Loans 52

Loans Startups Education Lender 52

Fico Collections

JANUARY 3, 2023

Agile Collections Strategies Can Protect Loyalty in Tough Times. As economic victims swell the collections queue, do you have the tools you need to differentiate them and apply the correct treatments to different cohorts? Intuitive And Smart Collections Strategies to Offer Customer Safeguards. FICO Admin. by Bruce Curry.

Collections 52

Collections Lender Creditworthiness Creditors 52

Troutman Sanders

APRIL 15, 2022

The Federal Housing Finance Agency (FHFA) is reviewing the credit models that Fannie Mae and Freddie Mac use and looking at ways to ensure that measures of creditworthiness are accurate, reliable, and predictive. The CFPB alleges that the U.S. In mid-March, the CFPB warned consumers of rising medical debt among older adults.

Creditworthiness 52

Creditworthiness Consumer Credit Debt collector Education 52

Troutman Sanders

AUGUST 14, 2023

The letters also recommended that the three agencies, along with other regulators, explain how lenders may use alternative data to underwrite third-party relationships with fintech lenders that determine borrowers’ creditworthiness after analyzing large amounts of data on borrower characteristics. For more information, click here.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

OCTOBER 24, 2023

Representative Maxine Waters (D-CA), while applauding the Biden administration’s recent actions on “junk fees,” announced that House Democrats will soon be “unveiling additional legislation to more expansively address junk fees in the financial services and housing industries.” For more information, click here. On October 16, the U.S.

Financial services 52

Financial services Creditworthiness Banks Government 52

Troutman Sanders

JUNE 22, 2021

Federal Activities: On June 18, the Federal Housing Administration (FHA) announced updates to its student loan monthly payment calculations to help provide greater access to affordable single-family FHA-insured mortgage financing for creditworthy individuals with student loan debt, which has a disproportionate impact on people of color.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52