Consumer Credit Credit Unions Financial Institution 
Troutman Sanders
APRIL 6, 2021
Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. The RFI notes that financial institutions have been and are exploring AI-based applications for a variety of purposes.
Fico Collections
JULY 9, 2021
For credit unions and smaller banks in North America, the challenge of how to compete with their bigger counterparts is a constant and pressing matter. Today’s prescreening solutions are very manual in nature, typically involving a list processing agreement with a credit bureau. Learn more about PrescreenCentral.
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Fico Collections
JULY 9, 2021
For credit unions and smaller banks in North America, the challenge of how to compete with their bigger counterparts is a constant and pressing matter. Today’s prescreening solutions are very manual in nature, typically involving a list processing agreement with a credit bureau. Learn more about PrescreenCentral.
Troutman Sanders
JANUARY 25, 2023
Bankers are opposing any effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to reduce or eliminate the late fee safe harbor, citing a potentially significant adverse impact on community banks and credit unions.
Troutman Sanders
DECEMBER 20, 2023
The report found that roughly a quarter of consumers are still being charged these fees despite the CFPB’s hostility towards so called “junk fees,” which has led many banks and credit unions to eliminate such fees. Overdraft fees are somewhat more prevalent than NSF fees (23.6% versus 20%, respectively).
Troutman Sanders
JULY 12, 2023
On June 14, Nevada Governor Joe Lombardo signed into law AB 332 , An Act Relating to Student Education Loans, requiring, among other things, student loan servicers to be licensed by the Commissioner of Financial Institutions and regulating certain conduct of the servicers towards borrowers. The law will take effect on January 1, 2024.
Troutman Sanders
AUGUST 9, 2022
Bankers are gearing up to oppose an effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to prevent an increase in allowable late charges for credit cards. Insured Credit Unions (Associations), as well as the Bank Policy Institute , expressed their collective displeasure with the idea.
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