Account Recovery

AUGUST 12, 2021

million in a settlement with the Attorney General of Massachusetts after it was accused of using abusive debt collections that violated state regulations. The company, Avant, was accused of making excessive telephone calls to individuals with unpaid debts and of failing … The post Online Lender to Pay $1.6M

Lender 246

Lender Collections Loans 246

Account Recovery

FEBRUARY 21, 2022

AG, AUTO LENDER REACH $5.6M SETTLEMENT OVER COLLECTION PRACTICES An auto lender has agreed to pay $5.6 million as part of a settlement with the Attorney General of Massachusetts over its debt collection practices, the AG’s office announced on Friday, affecting more than 1,000 borrowers throughout the state.

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Lender Collections 246

Account Recovery

JULY 13, 2021

EMERGENCY COLLECTION BILLS INTRODUCED IN DISTRICT OF COLUMBIA A pair of bills have been introduced in Washington, D.C., that seek to implement temporary restrictions on how debts are collected in the District now that it is ending the pandemic emergency declaration that was enacted last year.

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Lender Collections 246

Account Recovery

MARCH 14, 2025

Mountain View, CA, March 14, 2025 – Prodigal today announced the Prodigal Intelligence Engine (PIE), a specialized intelligence layer designed to power AI agents in collections and consumer finance. About ProdigalProdigal is the leading GenAI provider for the consumer finance industry.

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Collections Collection Agencies Collections Agency Lender 130

Account Recovery

SEPTEMBER 1, 2020

AG SUES AUTO LENDER FOR VIOLATING STATE COLLECTION CALL LIMITS, AMONG OTHER VIOLATIONS The Attorney General of Massachusetts yesterday announced a lawsuit against Credit Acceptance Corp., AG Sues Auto Lender For Violating State Call Limits; Calif. Legislature Approves State CFPB appeared first on AccountsRecovery.net.

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Lender Loans Collections 246

Account Recovery

JULY 29, 2020

A consumer finance lender that caters to Latino immigrants has agreed to dismiss all pending collection lawsuits it has filed and committed to filing 60% fewer cases in the future after consumer advocates and journalists started asking the company questions about its collection practices.

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Lender Collections 173

Account Recovery

SEPTEMBER 2, 2021

The Attorney General of Massachusetts has announced a $27 million settlement with an auto finance company that was sued back in 2020 for, among other alleged infractions, violating state law related to the number of phone call attempts that can be made when collecting on debts.

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Lender Collections 242

Account Recovery

SEPTEMBER 13, 2021

JUDGE GRANTS MSJ FOR DEFENSE IN FDCPA CASE OVER WEBSITE DISCLOSURE Sometimes, collectors will use a broad brush and expansive statements to try and cover as much ground as possible when letting consumers know about the rules and regulations related to collecting on unpaid debts. Judge Grants MSJ For Defendant in FDCPA Case; Colo.

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Lender Fair Debt Collection Collections 244

Account Recovery

JANUARY 5, 2021

5, 2021 /PRNewswire/ — Katabat, a leading global provider of debt management software solutions for lenders, fintechs, and collection agencies, announced today that it has acquired Simplicity Collection Software of Idaho Falls, Idaho. WILMINGTON, Del.,

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Acquisition Collections Lender Collection Agencies 246

Account Recovery

JANUARY 7, 2025

Additionally, it bars lenders from considering medical information in credit decisions, addressing concerns about the fairness and accuracy of medical debt in credit assessments. The Consumer Financial Protection Bureau this morning announced the release of its final rule prohibiting the inclusion of medical debt on consumer credit reports.

Lender 246

Lender Consumer Credit Loans Healthcare 246

Account Recovery

JULY 27, 2022

Judge Partially Grants MSJ for Defendant in FDCPA Case; Lender to Pay $19M For Credit Reporting ‘Failures’ appeared first on AccountsRecovery.net.

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Lender Fair Debt Collection Judgment Collections 245

Account Recovery

SEPTEMBER 16, 2020

SITE THAT HELPS CONSUMERS RESPOND TO COLLECTION SUITS LAUNCHES NATIONWIDE A service that started in Utah to help individuals respond to debt collection lawsuits yesterday announced it would now be available nationwide as it seeks to win $50,000 in a technology competition.

Lender 177

Lender Student Loans Student loans Collections 177

Account Recovery

JULY 29, 2020

Appeals Court Upholds Dismissal of FDCPA Suit Over Reporting of Multiple Debts; Lender Dismisses Collection Lawsuits appeared first on AccountsRecovery.net.

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Lender Fair Debt Collection Collections Collection Agencies 174

Account Recovery

AUGUST 23, 2022

The Colorado Attorney General’s Consumer Credit Unit last week published new guidance related to the enactment of a law governing remote work for licensed lenders while also noting that the guidance originally enacted at the start of the pandemic in 2020 remains in effect for entities not covered by the new law, including collection agencies, (..)

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Collection Agencies Collections Agency Collections Consumer Credit 246

Account Recovery

SEPTEMBER 17, 2021

16, 2021 – TrueAccord Corporation, which offers intelligent digital recovery and communication products and services, today launched Retain, a new, client-branded product that addresses early-stage collection challenges for lenders and other organizations with customers with past-due delinquent accounts. Lenexa, KS – Sept.

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Collections Lender 244

Account Recovery

FEBRUARY 13, 2023

When you’re submitting an application to get a debt collection license in Massachusetts, make sure you’re not disclosing information that state regulators are going to use against you. The post Application for Debt Collection License Leads to Enforcement Action Against Online Lender appeared first on AccountsRecovery.net.

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Lender Collections Loans 130

Account Recovery

FEBRUARY 5, 2025

📊 What to watch: With ongoing economic uncertainty, debt collection agencies, banks, and fintech lenders should closely monitor bankruptcy trends to assess portfolio risk and adjust collection strategies accordingly. Learn more.

Bankruptcy 165

Bankruptcy Collection Agencies Collections Agency Lender 165

Account Recovery

MAY 11, 2021

The Consumer Financial Protection Bureau has denied a petition from an auto title lender to modify or set aside a civil investigative demand looking into the company’s debt collection practices, among other areas of the business, as well as denied a petition for confidential treatment of the inquiry.

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Lender Collections 147

Account Recovery

FEBRUARY 26, 2024

Judge Denies Attorney’s Fees for Defense in FDCPA Case Belief in Excessive Collection Tactics Leads CFPB to Put Small-Dollar Lender Under Federal Supervision Consumers With More Credit Card Debt than Emergency Savings Hits All-Time High: Bankrate Compliance Digest – February 26 WORTH NOTING: A security company is in hot water for showing customers (..)

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Lender Credit Card Debt Collections 147

Jimerson Firm

FEBRUARY 10, 2022

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. Lenders that charge off a debt trigger issuance of the 1099-C when their defined policy leads the lender to discontinue collection activity and discharge a debt.

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Lender Credit Unions Credit Unions Collections 98

Account Recovery

FEBRUARY 12, 2021

Judge Grants MSJ for Defendant in TCPA, FDCPA Case Over Calls to Cell Phone; FTC Bans Payday Lender appeared first on AccountsRecovery.net.

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Lender Fair Debt Collection Judgment Collections 147

Account Recovery

JANUARY 10, 2024

Utah Appeals Court Overturns Dismissal of FDCPA Suit Related to State License DFPI Fines Lender for Failing to Disclose Convenience Fees N.J.

Lender 147

Lender Collections 147

Account Recovery

FEBRUARY 24, 2023

COMPLAINT ACCUSES FIRM OF PURSUING COLLECTION SUIT AFTER CLAIM OF ID THEFT Anytime a complaint starts with the sentence “… is a disabled senior citizen and monolingual Spanish-speaker who lives on a fixed income,” you can bet what follows is likely not to be good. The post Daily Digest – February 24.

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Account Recovery

OCTOBER 7, 2020

A campaign that began with a study revealing that 100,000 people every year attempt to commit suicide because they are mired in heavy debt has led to changes that will require lenders and debt collectors in the United Kingdom to make their collection letters less intimidating, including a ban on “angry looking upper case letters.”

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Collections Debt collector Lender 147

Account Recovery

APRIL 6, 2025

The Consumer Financial Protection Bureau has officially signaled it plans to rewrite its small business lending data collection rule, known as Section 1071, following major leadership changes earlier this year.

Financial Institution 100

Financial Institution Trade Lender Financial services 100

Account Recovery

SEPTEMBER 25, 2024

California Governor Gavin Newsom yesterday signed a trio of bills that will significantly impact the credit and collection industry in the state. These new laws, set to take effect in 2025, will reshape how medical debt is reported, expand consumer protections, and alter the landscape for commercial debt collection.

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Creditworthiness Collections Fair Debt Collection Garnishment 147

Account Recovery

APRIL 17, 2023

JUDGE REMANDS FDCPA CASE BACK TO STATE COURT A Magistrate Court judge in New York has ruled that a defendant in a Fair Debt Collection Practices Act case failed to show that the plaintiff suffered a concrete injury after removing the case to federal court, and has remanded the case back to state court where … The post Daily Digest – April 17.

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Lender Fair Debt Collection Collections 130

Jimerson Firm

OCTOBER 28, 2020

Lenders should be cognizant about what expenses are classified by the SBA as recoverable or non-recoverable. Recoverable Expenses” are defined as SBA approved, necessary, reasonable, and customary costs incurred to collect and enforce the terms of the Loan Documents, or to preserve or dispose of collateral. See SOP 50 51 3.

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Lender Loans Law Firms Collateral 98

Account Recovery

MAY 26, 2022

The Maryland Commissioner of Financial Regulation has issued a notice to lenders and servicers, calling on them to review their practices with respect to charging fees when accepting payments and to check whether any improper fees have already been collected, in the wake of a ruling from the Court of Appeals for the Fourth Circuit.

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Lender Collections 244

Account Recovery

JANUARY 18, 2021

The debt collection industry is being targeted for receiving funds under the Paycheck Protection Program because many of those companies have been complained about by consumers to the Consumer Financial Protection Bureau or been subject to regulatory and enforcement actions.

Debt collector 240

Debt collector Lender Loans Collections 240

Account Recovery

AUGUST 23, 2023

Judge Partially Grants MSJ for Defense in FCRA, FDCPA Case Over Claims Debt was Settled CFPB Sues Lender for ‘Churning’ Borrowers into Repeated Refinancings FTC Sues, Gets TRO to Stop Student Loan Debt Relief Scam 25 Companies Seeking Collection Talent WORTH NOTHING: Questions ahead of the first debate of the 2024 Presidential election cycle … (..)

Lender 130

Lender Student Loans Student loans Loans 130

Jimerson Firm

FEBRUARY 18, 2021

However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Accordingly, lenders making construction loans or those whose loan will be secured by a mortgage on real property, must be aware of notices of commencement and their requirements under Fla.

Construction 98

Construction Lender Loans Banks 98

Taurus Collect

JUNE 16, 2024

Managing compliance and regulations in collections can be challenging for lenders in the UK. This blog post aims to provide clear guidance on what lenders need to know. Understanding these elements can help lenders navigate the complexities of their industry.

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Lender Collections Collection Agencies Collections Agency 69

Account Recovery

MARCH 5, 2021

FDCPA Class Action Filed Against Debt Buyer, Collector; Online Lender’s Collection Practices Under Investigation appeared first on AccountsRecovery.net.

Fair Debt Collection 147

Fair Debt Collection Collections Lender 147

Account Recovery

OCTOBER 8, 2024

While this issue of Supervisory Highlights focuses on auto finance, the CFPB does take a deep dive into the collection aspects of auto loans and there are likely tea leaves that can be read by those in the ARM industry for insights and trends, especially related to credit reporting. The big picture: Auto loan debt exceeds $1.6 Learn more.

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Auto Loans collections Loans Repossession Collections 130

Account Recovery

MARCH 30, 2023

The company announced this week that it received a notification from the Consumer Financial Protection Bureau that it will not be pursuing an enforcement action against the company after opening an investigation into its legal collection practices.

Legal Collections 130

Legal Collections Collections Lender 130

Account Recovery

FEBRUARY 26, 2024

For the first time, the Consumer Financial Protection Bureau has determined that the risks surrounding the conduct of a small-dollar consumer finance company are sufficient that it needs to be supervised by the Bureau, a decision that the company contested, but was unable to convince the Bureau to change its mind. A cause to believe […]

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