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

Nexa Collect

SEPTEMBER 15, 2020

Need a Collection Agency – Serving Nationwide? The financial pressures have triggered feverish increases in the number of loan impairments for residential and commercial real estate loans. The financial pressures have triggered feverish increases in the number of loan impairments for residential and commercial real estate loans.

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Collection Agencies Collections Agency Lender Collections 130

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 Beyond doubt, the old-style debt collections approach has long been outdated.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 Financial services Lender 98

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 58

Collections Credit Card Debt Financial services Debt Recovery 58

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

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

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

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.

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Financial Institution Fair Debt Collection Financial services Law Firms 97

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.,

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Acquisition Credit Unions Credit Unions Construction 130

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

JULY 25, 2023

One of the aspects of the proposed rule that changed dramatically when the Final Rule was issued was a series of new provisions and sections of the Official Commentary prohibiting small business lenders from discouraging applicants from providing the data required to be collected by the Final Rule.

Financial Institution 52

Financial Institution Lender Loans Collections 52

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

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 83

Collections Financial Institution Debt collector Debt Recovery 83

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

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

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

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

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 96

Collections Financial Institution Debt collector Lender 96

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 Financial services Lender 52

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”.

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Collections Financial Institution Collection Agent Banks 68

Collection Industry News

JUNE 12, 2023

Here are some effective ways to attract clients as a collection agency: 1. Establish connections with individuals and businesses that can refer clients to your agency, such as attorneys, financial institutions, credit bureaus, or other professionals in the debt recovery field.

Collection Agencies 40

Collection Agencies Collections Agency Debt Recovery Collections 40

Troutman Sanders

AUGUST 31, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Joe Reilly for an important update on the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 Final Rule. On July 31, the U.S.

Financial Institution 52

Financial Institution Trade Lender Banks 52

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 Collection Agencies Collections Agency Debt Management 60

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.

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Financial Institution Debtor Loans Collateral 105

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.

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Credit Counselor Financial Institution Credit Unions Credit Unions 52

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

Troutman Sanders

APRIL 6, 2023

Please join Troutman Pepper Partner Chris Willis and his colleagues Caleb Rosenberg and Josh McBeain as they discuss a string of recent developments in small business financing at both the state and federal level, including the CFPB’s small business data collection rule and the regulations under state disclosure laws.

Financial Institution 52

Financial Institution Financial services Lender Banks 52

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.

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Loans Lender Financial Institution Banks 98

Debt Collection Answers

FEBRUARY 21, 2024

This article aims to shed light on what pre-screen firm offers entail, their significance, and how debt consolidation lenders acquire your information to send those enticing marketing mailers. Two entities that may send debt consolidation loan mailers are Symple Lending and Secure One Financial. How does the Pre-Screening Process Work?

Debt Consolidation 40

Debt Consolidation Loans Lender Financial Institution 40

Sawin & Shea

FEBRUARY 28, 2024

Types of personal loans include: Installment Plan Payday Peer-to-Peer Lending Cosigner /Guarantor Debt Consolidation Variable Rate Fixed Rate During your bankruptcy proceeding, at least a portion of these loans will be discharged, whether you borrowed from brick-and-mortar or online lenders. Unsecured loans don’t have collateral.

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Personal loans Bankruptcy Chapter 13 bankruptcy Loans 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

Collection Industry News

AUGUST 10, 2024

Because financial institutions use Social Security numbers on applications for loans and credit cards and on investments, having that information that information available to bad actors poses a serious risk, Pentester.com co-founder Richard Glaser said in an advisory on the company website. . You will find it at npd.pentester.com.

Financial Institution 40

Financial Institution Law Firms Lender Loans 40

Troutman Sanders

MARCH 1, 2023

The Arizona Court of Appeals recently clarified how the state’s debt collection statute of limitations applies to debt created by a land sale contract. A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues. In Velazquez v. FMZ Industries, Inc.

Foreclosure 52

Foreclosure Credit Card Debt Lender Financial Institution 52

Troutman Sanders

AUGUST 7, 2023

According to the press release, “[t]he loan program improvements will increase small businesses’ ability to access funding to start up and grow through a broader network of lenders with streamlined lender procedures.” For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Manufacturing Loans 52

FFGN COLLECT NY

SEPTEMBER 23, 2022

Merchant cash advance agreements are drafted in a way that offers an advantage to the lender. In the past, merchant cash advance companies and other lenders required their clients to sign a confession of judgment that could, in the event of default, be entered in New York without any further notice if and when the default occurred.

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Judgment Lender Judgment Enforcement Banks 52

Troutman Sanders

AUGUST 15, 2023

This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S. CFPB (discussed here ).

Credit Unions 52

Credit Unions Credit Unions Trade Financial Institution 52

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.

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