Creditors Creditworthiness Financial services 
Troutman Sanders
MAY 9, 2023
Among other things, the bill: (1) caps the rate of interest on medical debt to 3% per annum; (2) requires a debt collector or collection agency collecting on a medical debt to provide the consumer, upon the consumer’s written or oral request, an itemized statement concerning the debt, while allowing the consumer to dispute the validity of the debt (..)
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. Arrow Financial Services , 428 F. 2d 1057 (N.D.
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Collection Industry News
JANUARY 13, 2021
Chartered by the Bureau in January of 2020, the Taskforce has examined the existing legal and regulatory environment facing consumers and financial services providers. Clarify the obligations of CRAs and furnishers with respect to disputes under the FCRA; Assess periodically the accuracy and completeness of consumer credit reports.
CSA
DECEMBER 7, 2022
One of their key proposals is that the government and FCA introduce clear limits on the number of times that creditors can contact people in debt. The FCA’s chief operating officer and executive director of authorisations, Emily Shepperd, recently delivered a speech in which she outlined the importance of culture in financial services firms.
Fico Collections
JANUARY 3, 2023
Once a route to creditworthiness is redefined, they are often reluctant to compromise on their pre-agreed financial plans. Creditors that don’t have scalable and agile orchestrated digital channels will struggle to manage the high volume of activity already emerging at the pre-delinquency and early collections’ stages.
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