Qualco

NOVEMBER 30, 2021

The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. Control their cash collections and liquidity risk.

Collections 98

Collections Financial Institution Lender Creditors 98

Qualco

NOVEMBER 30, 2021

The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. Control their cash collections and liquidity risk.

Collections 98

Collections Financial Institution Lender Creditors 98

Troutman Sanders

MAY 5, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. Debt Collection. The CFPB alleges some financial institutions do not perform robust enough investigations of errors. Auto Servicing.

Financial Institution 52

Financial Institution Repossession Debt collector Lender 52

Qualco

DECEMBER 7, 2021

Customers are becoming more sophisticated and the same goes with the solutions they expect from financial institutions. Challenging the status quo for debt collection. Beyond doubt, the old-style debt collections approach has long been outdated. Customer analytics-driven approach for next-generation collections.

Collections 98

Collections Financial Institution Lender Financial services 98

Collection Industry News

MAY 15, 2025

As result of FTC lawsuit, federal court issues temporary restraining order halting scheme that sent fictitious debt collection notices to consumers nationwide As a result of a Federal Trade Commission lawsuit, a federal court hastemporarily haltedthe operations and frozen the assets of a phantom debt collection scheme and its operators.

Consumer Credit 40

Consumer Credit Garnishment Law Firms Collections 40

Credit Corp

JULY 29, 2024

Collection accounts are bad for your credit score. These negative marks on your credit report indicate you might not pay your bills on time—or ever, which is why lenders don’t like to see them. Collection accounts can stay on your credit report for up to 7 years. What Are Collection Accounts?

Collections 98

Collections Collection Agencies Collections Agency Credit Bureau 98

True Accord

MAY 19, 2021

Ohad Samet, CEO and cofounder of TrueAccord Group, has been named to the inaugural debt collection advisory committee of the California Department of Financial Protection and Innovation (DFPI). I look forward to working with this group representing diverse stakeholders in the debt collection industry,” said DFPI Commissioner Manuel P.

Collections 98

Collections Financial Institution Debt collector Lender 98

Fico Collections

FEBRUARY 16, 2021

The UK’s Financial Conduct Authority (FCA) has handed out a £26m fine following poor treatment of more than 1.5 It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules. As we pass the first anniversary of the pandemic’s outbreak, where does this leave lenders?

Lender 52

Lender Collections Loans Acquisition 52

Troutman Sanders

MAY 2, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule.

Financial Institution 97

Financial Institution Fair Debt Collection Financial services Law Firms 97

True Accord

JUNE 29, 2023

Let’s take a look at how the new updates to GLBA Safeguards Rule, how these security policies are important specifically for debt collection, and what best practices your business should follow to protect consumers’ data. Ready to collect more, faster from happier customers?

Collections 98

Collections Financial Institution Debt collector Debt Recovery 98

Collection Industry News

MAY 9, 2022

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. Debt Collection. The CFPB alleges some financial institutions do not perform robust enough investigations of errors. Auto Servicing.

Financial Institution 40

Financial Institution Repossession Debt collector Student loans 40

Qualco

DECEMBER 7, 2021

In that context, lenders need to have access to state-of-the-art technology to avoid major losses. All those requirements can be addressed with ML, which has started to modernise the whole debt collections lifecycle. Debt collections have always implemented a reactive approach, by trying to gather losses after a customer defaulted.

Debt Management 97

Debt Management Financial Institution Creditors Lender 97

FFGN COLLECT NY

OCTOBER 14, 2021

While these loans may have seemingly inviting agreements, there are some terms that offer the credit card processor speedier debt collection relief against you. Worries from the credit card processor and/or their lender that they won’t be repaid. The loan is accelerated and the lender may avail themselves of extreme remedies.

Loans 98

Loans Lender Financial Institution Banks 98

Credit Corp

DECEMBER 14, 2020

As long as data is being collected for credit reports, there’s room for mistakes. While creditors weren’t looking up someone’s history of debt and payments, many lenders did take risk-mitigation actions. The agencies might also collect negative information from local newspapers. Why does the credit repair industry exist?

Financial Institution 105

Financial Institution Lender Consumer Credit Creditors 105

Account Recovery

SEPTEMBER 5, 2024

04, 2024 — C&R Software (“C&R”),the world’s leading Cloud-native end-to-end software and solutions provider for the complete credit risk lifecycle and a CORA Group company, today announced the acquisition of SpringFour, the first-of-its-kind, leading financial health fintech. WARMINSTER, Pa.,

Acquisition 130

Acquisition Credit Unions Credit Unions Construction 130

True Accord

OCTOBER 7, 2024

What is a “self-serve portal” in financial services and collections? Overall, these self-service solutions represent a shift towards greater consumer control over their financial health, providing an efficient way for individuals to address and manage their finances—and debts specifically—on their own terms.

Collections 87

Collections Credit Card Debt Financial services Financial Institution 87

Fico Collections

FEBRUARY 1, 2021

However, that doesn’t mean that this acceleration has been evenly distributed across every company in the financial services industry, nor across every part of an individual financial institution. How would you rate yourself when it comes to your collections transformation? Capturing RFD - “Reason for Deferral”.

Collections 68

Collections Financial Institution Collection Agent Banks 68

Katabat

NOVEMBER 20, 2019

12, 2019 — Katabat, a leading global supplier of debt management software solutions, has launched Easy Collect, a powerful, yet easy to deploy, mobile payment portal for lenders and debt collection agencies. Easy Collect is PCI-compliant and does not require IT support for deployment. WILMINGTON, Del.,

Collections 60

Collections Debt Management Collection Agencies Collections Agency 60

Nexa Collect

DECEMBER 12, 2021

DeFi is a collective term for financial products and services that are accessible to anyone who can use Ethereum over the internet. A system that interacts buyers, sellers, borrowers, or lenders with peer-to-peer technology to access financial products or financial services bypassing middlemen such as financial institutions.

Collateral 130

Collateral Banks Financial Institution Financial services 130

True Accord

FEBRUARY 8, 2021

About TrueAccord Founded in 2013, TrueAccord’s data-driven debt collection platform is disrupting the collections industry by helping businesses collect more debt online than traditional methods. See all open positions and apply here: [link] .

Financial Institution 98

Financial Institution Lender Financial services Collections 98

Fico Collections

NOVEMBER 24, 2020

Synthetic identity fraud is so dangerous because it tends to go undetected for long periods of time, as there is no individual who has had their identity stolen to realize what is happening and alert financial institutions. This post is the first in a series looking at the issues around both first-party and synthetic identity fraud.

Financial Institution 98

Financial Institution Lender Banks Loans 98

Qualco

NOVEMBER 7, 2023

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. Consequently, financial institutions operate within an economy marked by contraction and sustained inflationary pressures.

Financial Institution 105

Financial Institution Debtor Loans Collateral 105

Troutman Sanders

SEPTEMBER 17, 2020

On September 15, 2020, after considerable delay and pursuant to a court settlement, the Consumer Financial Protection Bureau (CFPB) released its Outline of Proposals Under Consideration and Alternatives Considered for small business lending data collection rulemaking. Implementing a period for financial institutions to comply.

Financial Institution 52

Financial Institution Collections Lender Loans 52

Fico Collections

JULY 19, 2021

Lenders face a myriad of challenges these days. A pooled model is a scoring model built on “pools” of historical data from many financial institutions. No data is required from the customer because it’s built on pools of historical data from other financial institutions. What Is a Pooled Model?

Lender 52

Lender Credit Unions Credit Unions Financial Institution 52

Credit Corp

MAY 23, 2021

Incorrect Personal Information Lender Inquiries You Don’t Recognize Accounts You Never Opened Credit Utilization Goes Up Credit Score Goes Up or Down Unexpectedly Public Records You Don’t Recognize. Warning Sign 2: Lender Inquiries You Don’t Recognize. Warning Signs of Identity Theft. How Do I Check My Credit for Identity Theft?

Bankruptcy 98

Bankruptcy Financial Institution Lender Credit Bureau 98

Credit Corp

MARCH 7, 2021

Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. That is, the lender advances you money that you pay back with interest over a predetermined period of time. This often allows digital lenders to streamline the applications. Benefits of Online Personal Loans.

Personal loans 98

Personal loans Loans Collateral Lender 98

Troutman Sanders

APRIL 20, 2022

On April 18, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , scrutinizing the practice of withholding transcripts from students with delinquent accounts and who are attending an institute of higher education. As recently as December 2021, U.S.

Education 52

Education Lender Student loans Student Loans 52

Troutman Sanders

JANUARY 20, 2023

22-(R22-011) , concluding earned wage access (EWA) products that are fully non-recourse and no-interest are not “consumer lender loans” under Arizona law. Thus, those who make, procure, or advertise EWA products are not required to be licensed as a “consumer lender” by Arizona’s Department of Insurance and Financial Institutions.

Lender 52

Lender Loans Financial Institution Consumer Credit 52

Collection Industry News

JANUARY 19, 2021

I am reporting a potentially fraudulent credit collection and reporting issue,” said a third. The firm, Capio Asset Servicing, came under investigation last year as part of Operation Corrupt Collector, an enforcement sweep of the debt-collection industry by federal and state officials. who represents debtors in collection cases.

Debt collector 40

Debt collector Lender Collections Loans 40

Troutman Sanders

MAY 16, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Caleb Rosenberg for the second installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule.

Collections 52

Collections Law Firms Financial Institution Lender 52

Fico Collections

JUNE 30, 2023

Origination is just the initial phase of the long and complex mortgage lifecycle, which begins with a lender qualifying a borrower and then providing the funds used to purchase a new property or refinance an existing property. The lender then holds the mortgage on its balance sheet or sells the mortgage on the secondary market to investors.

Lender 96

Lender Loans Banks Creditworthiness 96

Qualco

OCTOBER 6, 2022

Digital collections tools and self-service platforms are on the rise and have empowered lenders to work more efficiently with their customers. Due to the limited agents' experience and financial literacy, customers usually don't get a proper explanation for the plans they are proposed to follow.

Collections 52

Collections Financial Institution Lender Loans 52

Collections Law

APRIL 5, 2022

Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have more important aspects of your business to run, but you may not know at what point it becomes worthwhile to bring in a collection professional. What does a collection attorney do?

Collections 52

Collections Credit Unions Credit Unions Judgment 52

True Accord

JULY 9, 2024

Meanwhile, the Consumer Financial Protection Bureau (CFPB) has been busy, with new rules impacting lenders and collectors across the spectrum. Read on for our take on what’s impacting consumer finances, how consumers are reacting and what else you should be considering as it relates to debt collection in 2024.

Student loans 111

Student loans Student Loans Banks Lender 111

Qualco

DECEMBER 7, 2021

Customers are becoming more sophisticated and the same goes with the solutions they expect from financial institutions. Challenging the status quo for debt collection. Beyond doubt, the old-style debt collections approach has long been outdated. Customer analytics-driven approach for next-generation collections.

Collections 52

Collections Financial Institution Lender Financial services 52

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. Source: site. Background.

Credit Unions 75

Credit Unions Credit Unions Trade Financial Institution 75

Troutman Sanders

OCTOBER 25, 2023

On October 24, the Federal Reserve Board (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the agencies) finally issued their long-awaited final rule modernizing how they assess lenders’ compliance under the Community Reinvestment Act (CRA).

Banks 52

Banks Lender Credit Unions Credit Unions 52