FDCPA Defense

MAY 6, 2014

In its Bulletin issued in July 2013 , the CFPB took the position that creditors, debt buyers and third-party collectors often make representations to consumers about credit-related issues in order to persuade them to pay. Credit Bureau of Georgia, 555 F. See, e.g., Wright v.

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Collection Industry News

JANUARY 13, 2021

The Taskforce was in part inspired by the National Commission on Consumer Finance, which was established by the Consumer Credit Protection Act in 1968 to conduct original research and provide recommendations relating to the regulation of consumer credit. To read the Taskforce Report Volume I click here: [link] .

Consumer Credit 40

Consumer Credit Creditworthiness Banks Education 40

Credit Corp

JULY 1, 2024

Although a prime score isn’t the highest credit score you can have—credit scores generally range from 300 to 850—it’s high enough to help you qualify for many loans and credit cards. Additional Score Categories Prime is just one of the five categories used to classify consumer credit scores in the context of lending.

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Lender Loans Auto Insurance Creditworthiness 52

Collection Industry News

MAY 18, 2021

In a letter sent to the leaders of the House and Senate , CUNA President/CEO Jim Nussle stated his objections to section 403 of the bill, which would amend the Fair Credit Reporting Act to prohibit credit scoring models from treating certain medical debt information on consumers’ credit report as a negative factor.

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CSA

DECEMBER 7, 2022

Council of EU and European Parliament announce provisional agreement on consumer credit directive. The Council of the EU and the European Parliament have announced that they have reached a provisional agreement on the consumer credit directive, which would repeal and replace the 2008 directive on consumer credit agreements.

Government 40

Government Consumer Credit Creditworthiness Financial services 40

Consumer Financial Services Law

JANUARY 14, 2017

Instead, the orders are focused on the CRAs’ marketing of credit related reporting services. According to the Consent Orders, the CRAs marketed and sold consumers credit scores and credit related products.

Lender 40

Lender Creditworthiness Financial Institution Education 40

FDCPA Defense

NOVEMBER 10, 2015

A furnisher may deem a dispute to be “frivolous or irrelevant,” however, if the consumer fails to provide the furnisher with sufficient information to investigate. See 16 C.F.R. See 15 U.S.C. 1681s–2 (a)(8)(F)(i)(I); 16 C.F.R.

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Debt Consolidation Creditworthiness Fair Debt Collection Law Firms 40

Credit Corp

FEBRUARY 9, 2024

Credit.com’s free credit report card tool can help you better understand your current creditworthiness and which factors you need to work on to help you improve your standing. While individual lenders may care that a credit counseling agency is repaying your accounts, FICO does not.

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Collection Industry News

JANUARY 25, 2023

UK Credit Card Borrowing Soars to Highest Monthly Level Since 2004 Credit card borrowing in the UK soared in November to its highest monthly level since 2004 amid mounting pressure on households from the cost of living crisis.

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Banks Credit Card Debt Creditworthiness Financial Institution 40

Troutman Sanders

MAY 9, 2023

Among other things, the bill prohibits student loan servicers from: (1) directly or indirectly employing any scheme, device, or artifice to defraud or mislead student loan borrowers; (2) engaging in any unfair or deceptive practice toward any person or misrepresent or omit any material information involving the servicing of a student education loan, (..)

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Financial services Student loans Student Loans Loans 52

Troutman Sanders

APRIL 15, 2022

The Small Business Administration also has committed to ensuring credit access and a vested interest in accurate credit reporting and underwriting. Support Veterans in Financial Hardship: The Veterans Administration (VA) will virtually cease reporting unfavorable debt, including medical debt, to consumer reporting agencies.

Consumer Credit 52

Consumer Credit Creditworthiness Debt collector Education 52

Collection Industry News

JUNE 10, 2024

In 2022, the three largest credit bureaus — TransUnion, Equifax and Experian — started removing paid medical debts from consumers’ credit reports. FICO® and Vantage Score, the two major credit scoring companies, have also decreased the degree to which medical bills impact credit scores.

Debt Consolidation 40

Debt Consolidation Healthcare Debt settlement Loans 40

Account Recovery

JANUARY 30, 2025

The Consumer Financial Protection Bureau is actively supporting state legislation aimed at prohibiting the reporting of medical debt to credit bureaus — a move that underscores the agencys ongoing efforts to reshape how medical debt impacts consumers’ financial health.

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Collection Industry News

APRIL 12, 2021

One of the more fascinating platform items of the Biden presidential campaign was the idea of transferring consumer credit ratings from Equifax (NYSE: EFX), Experian PLC (OTC: EXPGY) and TransUnion (NYSE: TRU) to a public registry under the Consumer Financial Protection Bureau. Source: site.

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Troutman Sanders

OCTOBER 24, 2023

Among other provisions under the stipulated order, the for-profit school must request that consumer reporting agencies delete the debt from consumers’ credit reports. The FTC also alleges that the for-profit school encouraged students to use income-share agreements to pay for the school. For more information, click here.

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Financial services Creditworthiness Banks Government 52