article thumbnail

Katabat Platform to Support SoFi Ominchannel Personal Loan Collections

Katabat

SoFi will leverage Katabat’s industry-leading Restore collections platform, to deliver an omnichannel experience for consumer collections. We are delighted that they have selected Katabat’s solution to enhance digital collections by meeting members where they are at,” said Ray Peloso, Katabat CEO. WILMINGTON, Del.,

article thumbnail

Connecticut Issues Cease and Desist Against Lead Generator

Troutman Sanders

(SoLo) for allegedly engaging in unfair, deceptive, and abusive acts and practices (UDAAPs) in violation of the Consumer Financial Protection Act of 2010, as well as for operating in Connecticut without a small loan company license or a consumer collection agency license.

Lender 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Reshaping Debt Collections with the QCR Accelerator

Qualco

Designed with financial institutions in mind, the QCR Accelerator excels in early-stage collections and goes beyond, providing rapid deployment and immediate return on investment benefits. This wealth of experience has been applied to develop this powerful solution, ensuring it meets lenders’ complex demands.

article thumbnail

How To Remove BYL Collection Services From Your Credit Report

Better Credit Blog

Based in Westchester, Pennsylvania, BYL is a third-party collections agency that was founded in 1998. The agency specializes in consumer collections, commercial collections, and medical device recovery. Here’s how BYL Collection Services and other agencies like it work.

article thumbnail

11th Cir. Reiterates That TILA Periodic Statements May Violate FDCPA

Collection Industry News

The appeal arose from a lawsuit brought by two Florida homeowners (“Debtors”) against their home loan servicer (“Servicer”) for alleged violations of the FDCPA and Florida’s Consumer Collection Practices Act. See Consumer Fin. After defaulting on their home loan, a foreclosure suit was instituted.

Debtor 40
article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here.

article thumbnail

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

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 was recently extended until April 15, 2021.